Will the house I inherited and have lived in for30 years be reassessed for property taxes when I put the deed in my own name?

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Will the house I inherited and have lived in for30 years be reassessed for property taxes when I put the deed in my own name?

I inherited a house but have left it in the trust paying property taxes through that for 8 years. Now I want to sell the house so I need to put the deed into my name and as the house was under Prop. 13 during my mother’s tenure, I want to know if it will be reassessed under my name and if I could be responsible for the difference during the 8 years I kept it in the trust and the reassessed value?

Asked on November 2, 2011 under Real Estate Law, California

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 12 years ago | Contributor

If the home is presently in trust and you desire it place it in your name, there is the possibility that your county tax assessor could try and have it re-assessed for property tax purposes. However, the re-assessment would only occur for the period forward, not back in time.

However, if the transfer of legal title is from your mother's trust to you, there is an exception allowing the carry over valuation from parent to child. Meaning, there is a good chance that your property taxes will not be re-assessed if you transfer title to you. I suggest that before you transfer title that you meet with a real estate attorney first.

Good luck.


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