Posted on: 27th Mar, 2009 12:32 pm
Hello, and thanks for reading this.
My boyfriend owns a condominium unit and we want to live together. The rules and regulations set forth by his HOA require that any person living in the unit be on the deed. We live in California, and are pretty nervous about filling out the paperwork correctly so as not to cause any taxes to be assessed and if we were to break up, all of his property goes back to him. We are even creating our own contract between the two of us with disclaimers to protect us both. We are not rich, and have minimal knowledge regarding this process. We are not sure whether to file as Joint Tenants or Tenants in Common. We spoke with the Los Angeles County Office of the Assessor and they said to use a Joint Tenant Grant Deed to avoid having the property reassessed. I have a copy of a Grant Deed, Quitclaim Deed, Joint Tenant Grant Deed and a Preliminary Change of Ownership Report from the LA County Recorder. Here are my questions:
On the Preliminary Change of Ownership Report, what do we enter for PART II through IV?
Which deed form should we use?
How do I correctly complete it to go from his name alone to his and mine?
What is the Documentary Transfer Tax?
Any help you can provide would be appreciated.
Sincerely,
Real Estate Challenged[/list]
My boyfriend owns a condominium unit and we want to live together. The rules and regulations set forth by his HOA require that any person living in the unit be on the deed. We live in California, and are pretty nervous about filling out the paperwork correctly so as not to cause any taxes to be assessed and if we were to break up, all of his property goes back to him. We are even creating our own contract between the two of us with disclaimers to protect us both. We are not rich, and have minimal knowledge regarding this process. We are not sure whether to file as Joint Tenants or Tenants in Common. We spoke with the Los Angeles County Office of the Assessor and they said to use a Joint Tenant Grant Deed to avoid having the property reassessed. I have a copy of a Grant Deed, Quitclaim Deed, Joint Tenant Grant Deed and a Preliminary Change of Ownership Report from the LA County Recorder. Here are my questions:
On the Preliminary Change of Ownership Report, what do we enter for PART II through IV?
Which deed form should we use?
How do I correctly complete it to go from his name alone to his and mine?
What is the Documentary Transfer Tax?
Any help you can provide would be appreciated.
Sincerely,
Real Estate Challenged[/list]
Hi Guest,
This issue has already been discussed on the following page:
http://www.mortgagefit.com/propertytransfer/grantdeed-jointowner.html#85250
This issue has already been discussed on the following page:
http://www.mortgagefit.com/propertytransfer/grantdeed-jointowner.html#85250