Education Tax
We have a wonderful State Education Tax that is generally referred to as Proposal A which causes second purchasers of homes to really get slammed with property taxes. My parents want me to have their house now that their getting to retirement but they don't want the taxes to skyrocket by transferring ownership entirely to me. If we put my name on the title but leave them as well will that A. protect from losing the property if something happened where they would have to go into a nursing home and B. more importantly would this keep the taxes from being readjusted because of proposal A?
Asked on 7/27/06, 7:31 pm
1 Answer from Attorneys
Rochelle Guznack
Law Offices of Rochelle E. Guznack, PLLC
Re: Education Tax
Putting your name on the deed as a tenant in common should work.
Good luck.
Answered on 7/31/06, 8:30 am
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