For all real property, the County records deeds and maintains records to determine title. Over time, a number of changes can occur such as: a joint tenant passes away; you create a Trust; a Trustor dies; you gift away all or part of your interest in the real property; a divorce; or some other reason to change title to real property.
These are all the events which require you to submit deeds and other documents to the county recorder where the real property is located, so the county has adequate and up-to-date records. These documents may include an Affidavit of Death of Joint Tenant, Affidavit of Death of trustee, Trust Transfer Deed so you can fund your Trust, or a Gift or Grant Deed so you can gift away your interests.
In addition, when recording documents to change title to your real property it may be necessary to make additional filings to avoid reassessment of the property for tax purposes. For example, transfers to a revocable trust or between a parent and a child are not subject to reassessment, but you must make a claim for a reassessment exemption to gain this advantage. Likewise, a transfer from an individual to an entity solely owned by the individual may not be subject to reassessment where an appropriate claim is made.
When change occurs in your life, don’t forget to update your title records with the county recorder. At Chauvel & Glatt, we will assist you in determining which method best suits your needs based on your circumstances to ensure your records with the county are properly updated. To learn how our attorneys can help you and your beneficiaries, contact us today.