Posted on: 10th Mar, 2010 09:31 am
My wife and i own 50% interst each on a home in California. I am the only signer on the mortgage. The house taxes are taxed on proposition 13. I wan to quick claim my 50% over to my wife. Will my wife still be eligible for the proposition 13 taxes?
Hi suncatcher!
Welcome to forums!
As far as I can understand proposition 13, if your wife becomes the owner of the property then she would be eligible for it. However, you should inform your lender about the transfer of property. The lender may want your wife to refinance the loan in her name.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I can understand proposition 13, if your wife becomes the owner of the property then she would be eligible for it. However, you should inform your lender about the transfer of property. The lender may want your wife to refinance the loan in her name.
Feel free to ask if you've further queries.
Sussane