Land Sharing Agreement Format In Contra Costa

State:
Multi-State
County:
Contra Costa
Control #:
US-00036DR
Format:
Word; 
Rich Text
Instant download

Description

The Land Sharing Agreement format in Contra Costa is designed to facilitate shared ownership of residential property between two parties, referred to as Alpha and Beta in the agreement. This document outlines the purchase terms, including the property's price, the down payment responsibilities, and financing arrangements. It specifies that both parties will share escrow expenses equally and hold title to the property as tenants in common. The agreement further details the roles of each party, with Beta living in the property, handling utilities, and maintaining the home, while both parties participate in any profit from the property's appreciation upon resale. The structure also addresses the potential lending between parties, stipulations for handling disputes through arbitration, and the processes for modifying the agreement. This form is particularly useful for attorneys, partners, and legal professionals assisting clients in establishing a clear framework for shared property investments. Paralegals and legal assistants can utilize this document to ensure all necessary details and legal requirements are covered, providing comprehensive support to the primary parties involved.
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FAQ

Documentary Transfer Tax Exemptions Conveyance Given for No Value. Conveyance to Establish Sole and Separate Property of a Spouse. Conveyance to Confirm a Community Property Interest when property was purchased with Community Property Funds. Conveyances transferring interests into or out of a Living Trust.

Declaration of Homestead – A document recorded by either a homeowner or head of household on his primary residence to protect his home from forced sale in satisfaction of certain types of creditors' claims. Decree of Distribution – Evidences the distribution of real property from the estate of a deceased person.

If you own and occupy your home as your principal place of residence on January 1, you may apply for an exemption of $7,000 off your assessed value for an annual savings of approximately $70 on your property taxes. New property owners will automatically receive an exemption application.

A homestead declaration protects your home's equity from both to forced and voluntary sales of the property. Exempt proceeds from a voluntary sale are protected if another home is purchased within 6 months.

You must occupy the dwelling as your principal residence as of January 1 of each year to qualify for the Homeowners' Exemption for that year.

2026 REQUEST FOR VALUE REVIEW (PROP 8) California State Revenue and Taxation Code, Section 51 authorizes the Assessor to temporarily lower the assessed value of any real property when it is greater than the market value as of January 1, lien date.

Documents are recorded within two (2) business days of receipt of the document. The average turnaround time for a document submitted for recording is 30 days.

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Land Sharing Agreement Format In Contra Costa