stacygeorgia
Member
What is the name of your state? I know we did not handle this the right way years ago. As of now the title on a home is 50/50 with me and my sister. My mother died and years ago we have a notarized letter between my mother, sister and I that I am able to buy our my sister and get 100% of the home. If I can't then we will sell it. My husband and I are able too now. It being sibling to sibling 50% of the value of the house will be reassessed with taxes. 50% of the proposition 13 will be lost due to it now longer being parent to child. Is there any getting out this? Quick claim deed? put the house in a trust now? My husband and I are not going to buy her out for a couple years due to our kids being in high school right now so we have time to figure all of this out I hope. The house is work around 900k and its assessed right now for only $117k from the time my mother purchased it in the last 70's. So it is a BIG DEAL financially in the end.