Q: What is the exempting language under R&T code 11930 for transfer tax purposes?
I am not sure exactly what you are asking, but if when I transfer property into a living trust I write on the deed "Transfer to inter vivos trust per Cal Tax & Rev Code 11930". I put it near the transfer tax line.
Depending on the county, they may also want a Transfer Tax Affidavit. Check the county clerk web site.
A: When property is transferred from one person to another, the property value is generally reassessed for property tax purposes. There are some exceptions to the reassessment rule. If the transfer you are making is exempt (such as a transfer between a husband and a wife, or when people put their own property into their trust, but there are others as well), then you are required to cite the tax law that says your type of property transfer is exempt from reassessment. Most transfers require the County Assessor to reassess the property, so don't be surprised if your situation does not fall within one of the exemptions in the law. This is a good site for you to read. https://ccr.saccounty.net/Documents/TransferTaxExemptions.pdf If you need help understanding the law in this area, contact a lawyer in your area. Best wishes!
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.