williams_95136
Member
I live in CA , Santa Clara county
I am doing a refinancing of my property and I have a partner ( brother at 30%) in the property. the bank told me that my brother have to quit his claim in order to refinance. I am concerned that this could cause the county to reassess the tax base for my property which could double my taxes. I was told by the escrow company that this is not the case but I called the county and they told me it could be reassessed. The property transfer is done with no money transfer. I called the escrow co again and I was told county will not reappraise the property. and they will put that in writing.
Questions
1. would my property be reassessed?
2. If is was reassessed can I go after the escrow co because they are giving me the wrong info.
thanks
I am doing a refinancing of my property and I have a partner ( brother at 30%) in the property. the bank told me that my brother have to quit his claim in order to refinance. I am concerned that this could cause the county to reassess the tax base for my property which could double my taxes. I was told by the escrow company that this is not the case but I called the county and they told me it could be reassessed. The property transfer is done with no money transfer. I called the escrow co again and I was told county will not reappraise the property. and they will put that in writing.
Questions
1. would my property be reassessed?
2. If is was reassessed can I go after the escrow co because they are giving me the wrong info.
thanks