Preliminary Change Of Ownership Form
The final step in estate planning in California is to "fund" your new living trust. By "funding" the trust, California estate planning attorneys merely mean the act of transferring title to your assets into your new living trust. Each county assessor's office in California reviews all recorded deeds for that county to determine if the property transfer of title or ownership requires reappraisal under the law. The county assessors also looks for reassessment opportunities using field inspections, review of building permits and newspapers. Once the county assessor has determined that a change in ownership has occurred, Proposition 13 allows the county assessor to reassess the property to its current fair market value as of the date ownership changed.
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