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Inherited Property. Transfer Claim and Hold Title Questions

My husband and I have bought out my sister of our father’s house in Alameda County, California. I am the trustee and executor. We want to use the parent to child exclusion from my father to me. Of course we are looking for the best property tax scenario. Our only child, an adult, has moved into the house.

We are working with a title and have put the process on hold while we seek advice.

I have spoken with the Alameda County Assessors office and have been sent two forms: Claim for reassessment exclusion for transfer between parent and child; and Claim for homeowner’s property tax exemption.

  1. Initially we were planning to have myself, my husband and our son on the title as Joint Tenants. Is this the right way to go? Or
  2. Can I immediately then transfer to our son the property using the parent to child exclusion with him being the sole owner?
submitted by /u/GrknssWknss
[link] [comments]

source https://www.reddit.com/r/RealEstate/comments/1fr7su3/inherited_property_transfer_claim_and_hold_title/
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