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The trust is in my name - the benificiary of the trust is the person that I want to put on title (new domestic partner) The Orange County Tax assessor said to talk to a real estate attorney to determine if title can change from a trust to individuals w/o tax base change. Does that make sense?
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Posted: Mar 13, 2009 at 12:08 PM
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Yes, it does make sense. You absolutely want to make sure of what you are doing in this important change because of the ramifications. Getting professional advice would be our recommendation as well. This would mean an attorney, estate planner, tax/financial advisor, etc.
Mar 13, 2009 at 7:19 PM
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Hi Michael, It is best answered by an attorney who specializes in such activity. It sounds to me like an inter-family transfer which doesn't usually trip off a reassessment, but it may be different with a non-related person.
Mar 13, 2009 at 2:45 PM
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Yes... definitely talk to a real estate attorney. There could be some major property tax reassessments and implications.
Mar 13, 2009 at 12:17 PM
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