Q: What is the exempting language under R&T code 11930 for transfer tax purposes?
A:
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!
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