Legal Question in Real Estate Law in California

My wife and I separated recently. I want to buy our house which is jointly owned and paid for. Will the property taxes go up? (I live in California) Will there be capital gains taxes?


Asked on 2/14/12, 2:05 pm

1 Answer from Attorneys

Not if you do it right. If you do it as part of a divorce or court ordered legal separation, it is automatically not taxable and does not count as a transfer for property tax reassessment. If you do it while remaining married, converting it from community or quasi-community property into your separate property, that's a bit more complicated, but if done right would still not result in any taxation nor reappraisal.

Read more
Answered on 2/14/12, 2:10 pm


Related Questions & Answers

More Real Estate and Real Property questions and answers in California