[quote=bearishgurl]Thank you for this clarification, UCGal, but HOW did you fill out the Assessor COO form (used to be yellow, don’t know about now). Did you claim on it that the transaction was a intra-family transfer?
Did your parents sign a form of a familial transfer deed or quitclaim deed when you signed your trust deed? And even though you took out a mortgage loan, did you indicate tax stamps on your deed in excess of the property’s current assessed value at the time??
If these questions are too personal, I understand.[/quote]
As I mentioned before we had a regular sale. I signed what seemed like thousands of pages of documents at the escrow office. I presume most were for the mortgage. I assume the deed was one of them. We had a sales agreement drawn up before we opened escrow. We put our downpayment money in and financed the balance. My dad walked away with the market value of the house. It was NOT a quitclaim deed. I assume it was a transfer deed. Under the grant deed search it shows as a deed, not a quitclaim.
The current version of the form we used to claim the tax exemption under prop 58 is available online for you to see. (The one I filled out is pretty much the same to the best of my recollection… but it was 8 years ago.) My dad filled out a portion, and my husband and I filled out a portion
