Re:Change of name (1 viewing) (1) Guest
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TOPIC: Re:Change of name
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Brian (User)
Senior Boarder
Posts: 65
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Change of name 1 Year, 6 Months ago
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Karma: 1
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I have a client that wants to legally change their last name. Is this a transfer and what info needs to be sent to the register of deeds and the city?
Thank you.
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Jacob (User)
Senior Boarder
Posts: 65
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Re:Change of name 1 Year, 6 Months ago
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Karma: 2
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Once you get an order from the court authorizing the name change, then you need to prepare the new deed, the consideration should be $1 and then reference the order from the court in the deed and attach the order to the new deed.
Also, dont forget to file a property transfer affidavit with the city assessor and claim an exemption from uncapping the exemption.
Good luck.
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Jackie (User)
Expert Boarder
Posts: 96
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Re:Change of name 1 Year, 1 Month ago
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Karma: 3
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Is there ever a time when you wouldn't have to file a PTA when adding or removing a family member from a deed? For example, suppose mom and dad are on the deed to their house. In an effort to avoid paying money for an estate planning, and avoiding probate, they add adult child to the deed. Would they need to file a PTA? And if parents pass on, would the adult child get the stepped up basis in the house?
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Mark (User)
Senior Boarder
Posts: 66
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Re:Change of name 1 Year, 1 Month ago
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Karma: 3
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To answer your question, i'm not sure if there is ever a time where you dont need to file a PTA. But, I would file one anyway so that there is no problem with the property taxes being uncapped. I know that here in California, if you add a child to a deed, then the city can uncap the taxable value. Such a transfer is not exempt.
Check with the exempt transfers sponsored by your state for exclusions from uncapping the taxable value.
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