Real Estate Law
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Are the people related to you?
Will you still be on the title as a co-owner with the two new people?
And you are asking if the creation of a joint tenancy in the property would trigger a reassessment for taxation purposes, correct?
Ok, then as long as you are remaining on the title along with them, this wouldn't be considered a triggering event so as to make a reassessment occur.
The CA Board of Equalization, which controls reassessments, states : ""Adding joint tenants does not result in reappraisal so long as you, as the original joint tenant, remain as one of the joint tenants. As a result of this exclusion, you become an "original transferor." Once you no longer have an interest in the property, at that time, the entire property would be reappraised. However, adding someone to title as tenants-in-common is a change in ownership, unless an exclusion applies.""