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California Claim For Reassessment Exclusion For Transfer From Grand Parent To Grandchild (Napa County)

State:
California
Control #:
CA-SKU-1825
Format:
PDF
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Description

Claim For Reassessment Exclusion For Transfer From Grand Parent To Grandchild (Napa County) The California Claim For Reassessment Exclusion For Transfer From Grand Parent To Grandchild (Napa County) is a form used to allow transfers of real property between grandparents and grandchildren to be excluded from reassessment. Different types of claims for reassessment exclusion include transfers due to death, gift, and intestate succession. To qualify as a transfer from a grandparent to a grandchild, certain conditions must be met. These include: the transferor (grandparent) must be 55 years of age or older at the time of the transfer; the transferee (grandchild) must be a lineal descendant of the transferor; the transferee must be 18 years of age or older at the time of the transfer; and the transfer must be for fair market value consideration. The claim must be filed with the Assessor’s Office within three years of the date of transfer. The claim must include supporting documents such as a deed or other evidence of transfer, evidence of transferor and transferee’s ages at the time of transfer, and a copy of the purchase agreement. Once the claim is filed, the Assessor’s Office will review the application and issue a decision. If the claim is approved, the transfer will be excluded from reassessment.

The California Claim For Reassessment Exclusion For Transfer From Grand Parent To Grandchild (Napa County) is a form used to allow transfers of real property between grandparents and grandchildren to be excluded from reassessment. Different types of claims for reassessment exclusion include transfers due to death, gift, and intestate succession. To qualify as a transfer from a grandparent to a grandchild, certain conditions must be met. These include: the transferor (grandparent) must be 55 years of age or older at the time of the transfer; the transferee (grandchild) must be a lineal descendant of the transferor; the transferee must be 18 years of age or older at the time of the transfer; and the transfer must be for fair market value consideration. The claim must be filed with the Assessor’s Office within three years of the date of transfer. The claim must include supporting documents such as a deed or other evidence of transfer, evidence of transferor and transferee’s ages at the time of transfer, and a copy of the purchase agreement. Once the claim is filed, the Assessor’s Office will review the application and issue a decision. If the claim is approved, the transfer will be excluded from reassessment.

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California Claim For Reassessment Exclusion For Transfer From Grand Parent To Grandchild (Napa County)