California  |  Real Estate Law

Legal Question

Asked on: 9/09/13, 4:04 pm

We are looking to re-finance Grandmas house with her so we can get on the loan + title. It is in a trust, revocable I think, and she wants to put her son on as co-borrower. He is a co-executor of her trust. We wanted to know what tax and other financial liability issues will crop up later on if we do this. Is there a tax reassessment, stepped up value (not sure what that is) or anything that will alert the IRS or the bank.

Thank you.

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