|
ERICHUANG
REAL ESTATE BROKER
|
DUE ON SALE CLAUSE AND REASSESSMENT OF PROPERTY TAX
Thursday, June 12 2008 10:14 AM
Does a land trust avoid due on sale clause and reassessment of property tax if I transfer my real property obtained several yeas ago in my personal name to a land trust?
Eric Huang
REPLY
|
|
Randy Hughes
SFH Master Advisor
|
Re:DUE ON SALE CLAUSE AND REASSESSMENT OF PROPERTY TAX
Friday, June 13 2008 03:44 PM
Does a land trust avoid due on sale clause and reassessment of property tax if I transfer my real property obtained several yeas ago in my personal name to a land trust?
IT WILL HELP YOU TO AVOID THE DUE ON SALE CLAUSE IF YOU SUBSEQUENTLY SELL THE BENEFICIAL INTEREST OF THE TRUST.
IT WILL NOT PREVENT THE LOCAL ASSESSOR'S OFFICE FROM RE-ASSESSING FROM TIME TO TIME.
IT WILL PREVENT A RE-ASSESSMENT RESULTING FROM A SALE OF THE BENEFICIAL INTEREST TO A THIRD PARTY.
Randy Hughes
REPLY
|
