TRANSFER OF REAL ESTATE
Ancillary to our estate planning practice, we routinely transfer parcels of real property located in California.
Typical reasons for transferring property are:
• Transfer to or from a revocable trust;
• Transfer after death of trustee;
• Transfer after death of a joint tenant;
• Transfer to an LLC
• Transfer after transmutation to separate property;
• Transfer into a QPRT.
We do not transfer property located in other states or countries. This is usually handled by out-of-state counsel.
QUESTIONS REGARDING TRANSFER
Q. Why is real property transferred into trust?
A. A trust is a box. Certain assets belong in that box. Title to settlor’s home must be placed in trust to obtain the advantages (probate avoidance, creditor protection, etc.) of the trust.
Q. What is the PCOR?
A. A preliminary change of ownership report (or PCOR) must be filed any time property is transferred through a deed. It informs the county assessor whether an exception exists to a property reassessment. For example, transfer into or out of living trusts are excluded from reassessment.
Q. What do you charge to transfer real property?
A. Absent unusual circumstances, we charge $375 to record a deed and file a PCOR. The client is responsible for the recording fee and Documentary Transfer Tax, if any.
Our office is located by Los Angeles International Airport (LAX). We serve Southern California, including Culver City, Del Rey, El Segundo, Inglewood, Manhattan Beach, Mar Vista, Marina del Rey, Playa del Rey, Playa Vista, Santa Monica, Venice, and Westchester.
Our services are first-rate.
Our fees are fair.
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