Coach's Corner Blog

What will the title company require if a trustee holds the title to the property which is part of the trust? 0

What will the title company require if a trustee holds the title to the property which is part of the trust?

What will the title company require if a trustee holds the title to the property which is part of the trust? Title companies require a certification of trust with the following information: 1) the...

Can a trust itself acquire and convey interests in real property? 0

Can a trust itself acquire and convey interests in real property?

Can a trust itself acquire and convey interests in real property? No. The living trust is an arrangement between a trustee and a trustor; only the trustee, on behalf of the trust, may own...

How do I determine if the replacement property is of “equal or lesser value” than the original? 0

How do I determine if the replacement property is of “equal or lesser value” than the original?

How do I determine if the replacement property is of “equal or lesser value” than the original? This depends upon the timing of the purchase or completion of construction of the replacement property. In...

I think that the sale of my residence may qualify for Propositions 60, 90, or 110. How do i apply? 0

I think that the sale of my residence may qualify for Propositions 60, 90, or 110. How do i apply?

I think that the sale of my residence may qualify for this benefit. How do i apply? You must file a claim with the assessor, who will determine if the transaction qualifies. Claim forms...

What conditions need to be met in order to qualify for exclusions in Propositions 60, 90, and 110? 0

What conditions need to be met in order to qualify for exclusions in Propositions 60, 90, and 110?

What are the conditions that need to be met in order to qualify for the exclusion? Both properties must be located in the same county, unless the county in which the replacement residence is...

What do Mello-Roos taxes pay for? 0

What do Mello-Roos taxes pay for?

What do Mello-Roos taxes pay for? Mello-Roos taxes are generally used for facilities and services relating to new growth and ongoing community needs, such as police protection, fire protection, ambulance and paramedic services, library...

How long does the tax stay in effect for a Mello-Roos district? 0

How long does the tax stay in effect for a Mello-Roos district?

How long does the tax stay in effect? The tax remains in effect until the principal, interest, and tax collection costs on the bonds are paid off, as long as needed to pay for...

Are Mello-Roos assessments governed by Proposition 13’s tax limits? 0

Are Mello-Roos assessments governed by Proposition 13’s tax limits?

Are the assessments governed by Proposition 13’s tax limits? No. Local governments are severely restricted from financing public capital facilities and services by increasing real property taxes. The Mello-Roos Community Facility Act of 1982...

Important Information about Propositions 58 and 193 0

Important Information about Propositions 58 and 193

Important Information Proposition 58 applies to transfers occurring on or after November 6, 1986. Proposition 193 applies to transfers occurring on or after March 27, 1996. Claims must ordinarily be filed within three years...

How Grandchildren Are Defined in Proposition 193 0

How Grandchildren Are Defined in Proposition 193

How Grandchildren Are Defined Under Proposition 193, the same relationship requirements for children apply to grandchildren, step-grandchildren and grandchildren-in-law. However, the parents of the grandchild(ren), who would otherwise qualify for a Proposition 58 exclusion...