Posted on: 23rd Aug, 2010 03:08 pm
My husband bought a property in 1999. His sister was a cosigner so that he could qualify for a loan. Therefore, the title was in his and his sister's name as joint tenants. We want to refi so the sister's name can be remove from loan and title. My name will be added to the title. Will our property get reassess due to title change? If so, will it reassess at 100% or 50% since my husband still remain as a original owner? Thanks.
Forgot to mention. The property is in CA.
Hi Guest!
Welcome to forums!
After there is a change in property ownership, the property generally gets reassessed for tax purpose. Though your husband remains the owner of the property, it will be reassessed at 100%.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
After there is a change in property ownership, the property generally gets reassessed for tax purpose. Though your husband remains the owner of the property, it will be reassessed at 100%.
Feel free to ask if you've further queries.
Sussane