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1. A
  Grant Deed to transfer property in Living Trust directly to Joint Tenancy
  
  FlyingRon, I plan to sell my house in a few years (more than 2 years) but the price has been appreciated more than $250k. I want to add my son to the home so that he can own half of the house and both of us can exclude up to $250k each. Thanks.
  addson2title
  
  Post #5
  
  Dec 15, 2019
  
  Forum: Other Real Estate Law Questions
2. A
  Grant Deed to transfer property in Living Trust directly to Joint Tenancy
  
  FlyingRon, Thanks for your response. I found the code 11911 from this website https://ccr.saccounty.net/Documents/TransferTaxExemptions.pdf So you are saying I just need to use only one code 11930 on one Grant deed?
  addson2title
  
  Post #3
  
  Dec 14, 2019
  
  Forum: Other Real Estate Law Questions
3. A
  Grant Deed to transfer property in Living Trust directly to Joint Tenancy
  
  What is the name of your state? CA I currently have my house in Revocable Living Trust and now I want to transfer it to Joint Tenants (co own with my son) To achieve this, I am planning to record 2 Grant Deeds: Grant Deed 1: "Transfer into or out of Revocable Living Trust, R&T Code...
  addson2title
  
  Thread
  
  Dec 13, 2019
  
  Replies: 4
  
  Forum: Other Real Estate Law Questions
4. A
  selling house that is still inside the Living trust that the Grantor has died 10 years ago
  
  I see. Thanks
  addson2title
  
  Post #14
  
  Dec 4, 2018
  
  Forum: Buying & Selling a Home
5. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Can my son pay my monthly Mortgage payments? I mean after I add his name to the Title. Is he responsible for 1/2 of the mortgage? If not, does he have to file Gift tax if the total payments exceeding 15K/year?
  addson2title
  
  Post #22
  
  Dec 4, 2018
  
  Forum: Other Real Estate Law Questions
6. A
  selling house that is still inside the Living trust that the Grantor has died 10 years ago
  
  Can she do 1031 Exchange at all?
  addson2title
  
  Post #12
  
  Dec 4, 2018
  
  Forum: Buying & Selling a Home
7. A
  selling house that is still inside the Living trust that the Grantor has died 10 years ago
  
  Thanks for your detail explanation! It looks like that she can't exclude the CG tax because the Trust currently owns the house. Can she still use Prop 13 to carry the same Cost of Basis (FMV of the house when her father died) to avoid Reassessment to keep the low property Tax?
  addson2title
  
  Post #10
  
  Nov 29, 2018
  
  Forum: Buying & Selling a Home
8. A
  selling house that is still inside the Living trust that the Grantor has died 10 years ago
  
  Yes, she is over 60.
  addson2title
  
  Post #6
  
  Nov 29, 2018
  
  Forum: Buying & Selling a Home
9. A
  selling house that is still inside the Living trust that the Grantor has died 10 years ago
  
  FlyingRon, Thanks for your comment. I was referring to the Capital Gain Exclusion, if she owns and lives in the house for 2 years, then she can exclude. Since the house is not in her name, I think she can't exclude the gain? Regarding the prop 13, because she does not transfer the title to her...
  addson2title
  
  Post #5
  
  Nov 29, 2018
  
  Forum: Buying & Selling a Home
10. A
  selling house that is still inside the Living trust that the Grantor has died 10 years ago
  
  What is the name of your state? CA I have a friend selling house that still inside the Trust. She is both the successor Trustee and Beneficiary of her father Living Trust. Her father has already died 10 years ago but she did not transfer the house to her own name. Now she is selling this...
  addson2title
  
  Thread
  
  Nov 29, 2018
  
  Replies: 13
  
  Forum: Buying & Selling a Home
11. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Taxing Matters, By the way, why the Gift Amount is calculated based on the FMV of the house but not the Equity in the house? Thanks, -V
  addson2title
  
  Post #18
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
12. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Yes, that's the plan. :)
  addson2title
  
  Post #17
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
13. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  I see the benefit of step-up but I can't live with him until I die. I want him to get his own house and I plan to move to other state when I retire. This is a good time to sell the house and help my son to start a new home in the near future. That's why I try to avoid paying Capital Gain tax.
  addson2title
  
  Post #16
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
14. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Okay, so I don't have to pay CG tax. I choose option (1) so I will NOT take back his proceeds. I want him to use it to put down for his future house.
  addson2title
  
  Post #14
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
15. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Yes, that is what I calculated.
  addson2title
  
  Post #13
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
16. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Taxing Matters, Thanks for the detail explanations. If I choose option (1), what GIFT tax amount do I have to file to the IRS? 900k/2 = 450K or (900k-300k loan)/2 = 300K? Do I have to pay capital Gain Tax at the time I add my son name to the title? I thought I do not sell 1/2 of the...
  addson2title
  
  Post #10
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
17. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Thanks FlyingRon! I will make sure he will be more than 18 when I sell the house. If Lender won't call the mortgage, then this is doable plan for me. If the county won't re-assess the property tax, it is a bonus for me. I'm still concern about adding the Promissory Note (or 2nd Deed of Trust)...
  addson2title
  
  Post #7
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
18. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  Thanks for your opinion HRZ. The CG (Fed+State) would be around 28%. With 200K gain, the tax would be around 56K. It's not a lot but this is after tax money.
  addson2title
  
  Post #6
  
  Oct 16, 2018
  
  Forum: Other Real Estate Law Questions
19. A
  Capital Gain Tax, Lender's "due on sale" and Property Tax
  
  What is the name of your state? CA I bought a house long time ago for $450K and now the value has increased to $900K. The Capital Gain would be $450K if I sell the house now or in the near future. I currently have a mortgage balance of $300K in this house. My son and I have been living in the...
  addson2title
  
  Thread
  
  Oct 16, 2018
  
  Replies: 22
  
  Forum: Other Real Estate Law Questions

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