Posted on: 17th Oct, 2010 02:37 pm
I have a condo rental that is paid off and my brother and sister--n-law are tenants in common on the title. It is my property and my sister-in-law wants their names off the title because of liability to renters. If they quit-claim-it back to me will the prop-13 benefit be lost and my property taxes reassessed to the current market value?
Hi dhdobson,
After a property transfer takes place, the property taxes will be reassessed and there can be some minor changes in your tax payment.
After a property transfer takes place, the property taxes will be reassessed and there can be some minor changes in your tax payment.
even if no mopney changes hands?