Get the free Preliminary Change of Ownership Report

BOE-502-A(P1)REV 11 (07-10) PRELIMINARY CHANGE OF OWNERSHIP REPORT To be completed by the transferee (buyer) prior to a transfer of subject property, in accordance with section 480.3 of the Revenue

How to fill out preliminary change of ownership

How to fill out preliminary change of ownership:

1. Obtain the necessary form: The preliminary change of ownership form can typically be obtained from your local county assessor's office or through their website. Make sure you have the correct version of the form for your specific property type.
2. Provide property information: Fill out all the required information about the property being transferred. This includes the address, legal description, and any other relevant details. Double-check the accuracy of the information before moving on to the next step.
3. Identify the transfer parties: Clearly identify the parties involved in the transfer of ownership. This could include the current owner(s) and the new owner(s). Provide their full names, contact information, and their respective roles in the transaction.
4. Specify the type of transfer: Indicate whether the transfer is a sale, gift, or inheritance. If it's a sale, you may need to provide additional details such as the purchase price, terms of the sale, and any applicable financing involved.
5. Determine the transfer date: State the effective date of the transfer. This is important as it will determine the assessment and taxation dates for the new owner. It's usually the date when the transfer of ownership is legally completed.
6. Sign the form: All parties involved in the transfer should sign and date the preliminary change of ownership form. This verifies their consent and agreement to the transfer. Some jurisdictions may require signatures to be notarized, so check the specific requirements in your area.

Who needs preliminary change of ownership?

1. Homebuyers: Individuals or entities purchasing a property need a preliminary change of ownership to initiate the transfer process. This form helps the local assessor's office keep track of changes in property ownership and accurately assess its value.
2. Sellers: Property sellers may also need to complete a preliminary change of ownership to document the transfer and provide necessary information to the local assessor's office. This ensures a smooth transition of ownership and helps establish the new owner's tax responsibilities.
3. Executors or administrators: In situations where property is being transferred due to the death of the owner, the executor or administrator of the deceased's estate would need to file a preliminary change of ownership. This is necessary to update the ownership records with the new legal representative of the property.
4. Gift givers: If someone is gifting a property to another person, a preliminary change of ownership form is required. This allows the local assessor's office to make the necessary adjustments to the record and reassess the property, if needed.
5. Inheritors: Individuals inheriting property also need to complete a preliminary change of ownership form to officially transfer the ownership from the deceased to the new owner. This ensures that the property is properly recorded under the new owner's name for assessment and tax purposes.

For pdfFiller’s FAQs

What is preliminary change of ownership?

Preliminary change of ownership is a report that provides notification of changes in property ownership.

Who is required to file preliminary change of ownership?

The new property owner or buyer is required to file the preliminary change of ownership form.

How to fill out preliminary change of ownership?

To fill out the preliminary change of ownership form, the new property owner must provide information about the property and the new ownership details.

What is the purpose of preliminary change of ownership?

The purpose of preliminary change of ownership is to inform the local government of changes in property ownership for assessment and taxation purposes.

What information must be reported on preliminary change of ownership?

The preliminary change of ownership form must report details about the property, the new owner, and the sale or transfer of ownership.

How can I send preliminary change of ownership for eSignature?

Once you are ready to share your preliminary change of ownership, you can easily send it to others and get the eSigned document back just as quickly. Share your PDF by email, fax, text message, or USPS mail, or notarize it online. You can do all of this without ever leaving your account.

How can I get preliminary change of ownership?

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