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adding a name to title

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TinaLee32

Junior Member
What is the name of your state? California

I need to know how to go about adding a name to my title of my home. What forms that need to be filled out and will that person have to pay any kind of taxes for being added to a property?
 


H

HomeGuru

Senior Member
TinaLee32 said:
What is the name of your state? California

I need to know how to go about adding a name to my title of my home. What forms that need to be filled out and will that person have to pay any kind of taxes for being added to a property?
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**A: sure, talk to a real estate attorney and a CPA.
 
C

CAlandlords

Member
TinaLee32 said:
What is the name of your state? California

I need to know how to go about adding a name to my title of my home. What forms that need to be filled out and will that person have to pay any kind of taxes for being added to a property?
Click to expand...
All you have to do is call or go into a title company. They can take care of the paperwork for you. There are some fees (recording, notary) involved in just the paperwork part of it.

The BIG area of concern is the taxes. Who are trying to add to title? By adding someone to title you are transferring partial title (ownership) of your property to that someone. MOST instances will incur a transfer tax. The only one I know for sure that does not is spouse to spouse. So if it is not a spouse to spouse transfer, it most likely will have a transfer tax. That will vary depending your city and county.

In addition to it triggering a transfer tax, in most cases it also triggers a reassesment of value for your property taxes. The only time besides a spouse to spouse transfer that does not trigger a reassessment is parent to child.

AND you could also have to pay capital gains tax (or something, I'm not an accountant) on whatever portion you are transferring.

Verify these things with the title company. MAKE SURE YOU KNOW FOR SURE (see it in writing from the county) what your situation is before you sign on the dotted line, if you care. If you don't care, sign away!

First and foremost, do what HomeGuru said: TALK TO A CPA. These taxes could all be quite minor and worth whatever amount of money if any to you to do what it is you want to do. But you probably want to make sure before you do it.
 
H

HomeGuru

Senior Member
CAlandlords said:
All you have to do is call or go into a title company. They can take care of the paperwork for you. There are some fees (recording, notary) involved in just the paperwork part of it.

**A: a title company is not going to draft the deed which is the instrument that comveys title. An attorney must do that as ordered by the title co..
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C

CAlandlords

Member
HomeGuru said:
CAlandlords said:
All you have to do is call or go into a title company. They can take care of the paperwork for you. There are some fees (recording, notary) involved in just the paperwork part of it.

**A: a title company is not going to draft the deed which is the instrument that comveys title. An attorney must do that as ordered by the title co..
Click to expand...
Not in California. No attorney needed.
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H

HomeGuru

Senior Member
CAlandlords said:
Not in California. No attorney needed.
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**A: ok, then please provide the cite to the CA Civil Code or case law that allows a title company to draft a recordable real property conveyance instrument and engage in the UPL.
 
C

CAlandlords

Member
HomeGuru said:
**A: ok, then please provide the cite to the CA Civil Code or case law that allows a title company to draft a recordable real property conveyance instrument and engage in the UPL.
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All I know is my own experience. Every title transfer in CA I've been a part of has not required an attorney.
 
H

HomeGuru

Senior Member
CAlandlords said:
All I know is my own experience. Every title transfer in CA I've been a part of has not required an attorney.
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**A: ask any of the title companies that you used to tell you who actually drafted the deed or conveyance document.
 
C

CAlandlords

Member
HomeGuru said:
**A: ask any of the title companies that you used to tell you who actually drafted the deed or conveyance document.
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OK. That does not mean that I am not right that all someone needs to do is go to a title company to add someone to title, not directly to an attorney. Can you at least agree with that?

HomeGuru, just so you know I deeply respect your advice on all matters on these boards and I always hope for your advice on the questions that I have because I know that your answers will be accurate along with BelizeBreeze and a few others. I even love the banter that ensues when someone doesn't like your answers. It cracks me up. :D I'm not trying to argue with you. I just know that to get a new deed, while it may ultimately come from an attorney, one does not need to go to an attorney to get it done.
 
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