Placer County, CA

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Assessor - Inter-Spousal Transfers

1. My spouse and I are on title to our house, if I give my interest to my spouse, will this trigger a reassessment?: No. All transfers between spouses during the marriage are excluded from reassessment regardless of the vesting on title. The vesting may be joint tenants, tenants in common, community property, community property with right of survivorship or in the family trust.

2. My spouse and I are getting a divorce; we are severing our ownership vesting to tenants in common. Will this trigger a reassessment?: No. Transfers of ownership as a result of dissolution of marriage do not trigger reassessment.

3. My spouse and I are getting a divorce, the divorce settlement agreement states we are to keep the house until our children graduate from college after our divorce. Will this trigger a reassessment?: No. Your ex-spouse or you, may buyout each other or sell the property in the open market as long as it is stated in the divorce settlement. Regardless of how title is held, the transfers between spouses pursuant to a property settlement agreement do not trigger a reassessment.

4. My ex-spouse and I are on title as tenants in common. If we have a mutual agreement can we transfer property to the other without a reassessment?: No. There is no excludable relationship and there is no divorce marriage settlement agreement. Even though you have a 50% mutual agreement, and if your ex-spouse decides after you are divorced to give up 50% interest, it will result in a reassessment of that 50% if you did not obtain a divorce marriage settlement agreement.

5. Is it always beneficial to claim this exclusion?: No. If you received a Proposition 8, declined in market relief during the transferred date, or the fair market value of the property is lower than your Proposition 13 factored base year value, it will be better for you to accept a new Proposition 13 base year value for the transfer. This will result in a lowered factored base year value in the long run.