Legal Question in Wills and Trusts in California
can a Quitclaim Deed to siblings prevent reassessment of property where parent to child is required for no reassessment. The property is a cabin located on Forest Service Leased land & referred as "improvements" & considered personal property. No deed, Title, probated will or agreement on this property. My father's Trust transferred the Forest Service permit to me & the property was shared per a holographic will from their mother to her sons.
2 Answers from Attorneys
I think you need to consult in person with a real estate or probate attorney. Your facts are confusing.
What is being transferred? Is it just the cabin and not the land? Who has been paying the property taxes? Who owns the permit?
Without having the answer to Mr. Jordan's questions above, you should know that there is no reassessment exclusion for transfers between siblings. The exclusion to reassessment only applies to transfers of a personal residence and up to $1,000,000 of assessed value of other property between parents and children and between grandparents and grandchildren if the intervening child is deceased.
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