Grant Deed to transfer property in Living Trust directly to Joint Tenancy

[addson2title]

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 11930" (to avoid transfer tax and reassessment)

Grantor: "My name, as trustee of the My Revocable Living Trust name dated Month, Date, Year"
Grantee: "My name"


Grant Deed 2:
"This is a bonafide gift and the grantor received nothing in return, R & T 11911.” (to avoid transfer tax and reassessment)

Grantor: "My name"
Grantee: "My name and my son name, as Joint Tenants"

Do I have to do 2 Grant Deeds above or just do one Grant Deed as below and list both Codes to avoid transfer tax and reassessment?

Only 1 Grant Deed:
"Transfer into or out of Revocable Living Trust, R&T Code 11930" (to avoid transfer tax and reassessment)
"This is a bonafide gift and the grantor received nothing in return, R & T 11911.” (to avoid transfer tax and reassessment)

Grantor: "My name, as trustee of the My Revocable Living Trust name dated Month, Date, Year"
Grantee: "My name and my son name, as Joint Tenants"

Will this still be okay to avoid transfer tax and reassessment?

Thanks in advance

 

[FlyingRon]

11930 doesn't constrain who the inter vivos gift is made to. I'm not sure what your references to 11911 have to do with anything. That section is the levying of the transfer tax. 11930 covers it being exempted for gifts (and transfers based on death).

As for reassessment, the trust really doesn't matter. You are considered to be the beneficial owner in the trust you describe. The transfer to yourself is a non-event. They will consider the transfer to some other person to be a transfer from YOU whether you do it from your trust or directly from you.
Just because it is a gift does NOT stop the reassessment. Gifts to certain people may. In this case, it is because it is to your son.

So yes, based on what you said you may indeed deed the property directly from the trust to you and your son as joint tenants without transfer tax or reassessment concerns.

What should be said is that IT MAY BE ILL-ADVISED TO DO THIS. Why are you doing this?
You should have an attorney prepare the deed.

 

[addson2title]

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?

 

[FlyingRon]

You should talk to whatever county you are in (or an attorney) to make sure you have the wording and supporting documentation that will make them happy.

You still haven't explained why you are attempting to do this. Giving half the property to your son has negative implications for both of you.

 

[addson2title]

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.