QUESTION

What needs to be done when a name is removed from the title tax wise?

Asked on Apr 26th, 2012 on Taxation - California
More details to this question:
We own a property and the other owner passed away. We removed his name from the deed, tax wise what do we do?
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1 ANSWER

A beneficiary like you does not pay an estate tax and there is no inheritance tax in Ca. Contact the county tax assessor for a change in ownership form because the property is subject to reassessment. I am curious how you removed his name from the deed. Was the property held in joint tenancy? Otherwise it should be probated.
Answered on May 04th, 2012 at 2:22 PM

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