Legal Question in Wills and Trusts in California
My husband died in 2010. He owned an undeveloped lot (in California) worth ~$2000. I have been told that I must have the property assessed, and a government official must review the assessment, before title can be transferred. This will end up costing $1000. Why must I spend this money when (1) we were married at the time of his death (community property) and (2) the limit on probate is $20,000, so much higher than our property could possibly be worth that a detailed assessment is a waste of time?
What happens if I do nothing and 10 years later want to take title?
1 Answer from Attorneys
That doesn't sound right. Property is reassessed when title changes from a change of ownership. I've never heard of reassessment prior to a title change/ change of ownership.
A change of ownership resulting from a transfer to a souse that takes effect upon a spouse's death is excluded and exempt from reassessment. (Rev. & Tax. Code, sect. 63.)
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