How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Attorney2020 Your Own Question
Attorney2020
Attorney2020, Lawyer
Category: CA Real Estate
Satisfied Customers: 2578
Experience:  I have significant experience in real estate law.
63724254
Type Your CA Real Estate Question Here...
Attorney2020 is online now
A new question is answered every 9 seconds

I Quick Claim 50 percent of my house to my mother in year

Customer Question

Property Questions regarding filling out “Claim for Reassessment Exclusion for Transfer Between Parent and Child in California.

The form asked if I am Joint Ownership before the change form is filled out...

I Quick Claim 50 percent of my house to my mother in year 1987 and it was supposed to be quick claim back to me in year 1989 …..was mistakenly was not. My mother does not live with me for the 30 years. I have a line of credit with Bank of America for the pass 20 with out my mother signing. I just did a new line of credit and I notice they did Vesting Correction on my Grant Deed. I was told by the assessors office the my mother is still on title and to do a form for Exclusion for transfer between parent and child.

Submitted: 1 year ago.
Category: CA Real Estate
Expert:  Attorney2020 replied 1 year ago.
What is the issue. The exclusion form should alleviate the problem.
Customer: replied 1 year ago.

Parent Child Transfer of Property Questions Proposition 58….Form BOE-58-AH (P1) REV. 16 (05-14) regarding filling out “Claim for Reassessment Exclusion for Transfer Between Parent and Child in California.

  1. The form asked if the property was in Joint Tenancy?
  2. Since my mother has never lived in this home, this transfer would be a non-residence, other property, between parent and child and the exclusion is 1 million dollars?
  3. Since this property was quick claimed to sharing ownership with me in year 1983, and accidently she was never removed in year 1984 as we thought….I assume the question regarding her percent of ownership is 50%?
  4. Apparently my dad was also on title and somehow the mortgage company had him removed in year 1994 without me knowing….does this use any part of the 1 million dollar exclusion and how would that effect this transfer from my mother to son in year 2015? I assume my mother/father and I all owned 33%....and when he passed we owned 50 percent each?
  5. How did I have a line of Credit with Bank of America for 15 years without my mother”s signature? I know Bank of America did a title search…
  6. Does the form need to be typed or can hand written be acceptable?
  7. I inserted a wrong answer in one of the boxes…I white-out acceptable?

Related CA Real Estate Questions