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

Customer Question
Property Questions regarding filling out...

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: 2 years ago.Category: CA Real Estate
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Answered in 4 hours by:
5/5/2015
Lawyer: Attorney2020, Lawyer replied 2 years ago
Attorney2020
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What is the issue. The exclusion form should alleviate the problem.
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Customer reply replied 2 years 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?
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