CA Preliminary Change of Ownership Report 1


PRELIMINARY CHANGE OF OWNERSHIP REPORT

To be completed by transferee (buyer) prior to transfer of subject property in accordance with Section 480.03 of the Revenue and Taxation Code. A Preliminary Change of Ownership Report must be filed with each conveyance in the County Recorder’s office for the county where the property is located; this particular form may be used in all 58 counties of California.
THIS REPORT IS NOT A PUBLIC DOCUMENT
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SELLER/TRANSFEROR:
BUYER/TRANSFEREE:
ASSESSOR’S PARCEL NUMBER(S)
PROPERTY ADDRESS OR LOCATION:


MAIL TAX INFORMATION TO:
Name
Address


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NOTICE: A lien for property taxes applies to your property on March 1 of each year for the taxes owing in the following fiscal year, July 1 through June 30. One-half of these taxes is due November 1, and one-half is due February 1. The first installment becomes delinquent on December 10, and the second installment becomes delinquent on April 10. One tax bill is mailed before November 1 to the owner of record. IF THIS TRANSFER OCCURS AFTER MARCH 1 AND ON OR BEFORE DECEMBER 31, YOU MAY BE RESPONSIBLE FOR THE SECOND INSTALLMENT OF TAXES DUE FEBRUARY 1.
The property which you acquired may be subject to a supplemental assessment in an amount to be determined by the Santa Clara County Assessor. For further information on your supplemental roll obligation, please call the Santa Clara County Assessor at
408/299-4781.
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PART I: TRANSFER INFORMATION Please answer all questions.


YES NO
  *   *  A. Is this transfer solely between husband and wife (Addition of a spouse
 divorce settlement, etc.)?
  *   *  B. Is this transaction only a correction of the name(s) of the person(s)
 holding title to the property (For example, a name change upon
 marriage)?
  *   *  C. Is this document recorded to create, terminate, or reconvey a lender’s
 interest in Property?
  *   *  D. Is this transaction recorded only to create terminate, or reconvey a
 security interest (e.g. cosigner)?
  *   *  E. Is this document recorded to substitute a trustee under a deed of trust,
 mortgage, or other similar document?
  *   *  F. Did this transfer result in the creation of a joint tenancy in which the
 seller (transferor) remains as one of the joint tenants?
  *   *  G. Does this transfer return property to the person who created the joint
 tenancy (original transferor)?
  *   *  H. Is this transfer of property:
 1. to a trust for the benefit of the grantor, or grantor’s spouse?
 2. to a trust revocable by the transferor?
 3. to a trust from which the property reverts to the grantor within 12
 years?
  *   *  I. It this property is subject to a lease, is the remaining lease term 35 years
 or more including written options?
  *   *  J. Is this a transfer from parents to children or from children to parents?
  *   *  K. Is this transaction to replace a principal residence by a person 55 years
 of age or older?
  *   *  L. Is this transaction to place a principal residence by a person who is
 severely disabled as defined by Revenue and Code Section 69.5?

If you checked yes to J, K, or L, an applicable claim form must be filed with the County Assessor. Please provide any other information that would help the Assessors to understand the nature of the transfer.
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IF YOU HAVE ANSWERED “YES” TO ANY OF THE ABOVE QUESTIONS EXCEPT J, K, OR L, PLEASE SIGN AND DATE,
OTHERWISE COMPLETE BALANCE OF THE FORM.
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PART II: OTHER TRANSFER INFORMATION
A. Date of transfer if other than recording date ________
B. Type of transfer. Please check appropriate box.
  * Purchase * Foreclosure * Gift * Trade or Exchange * Merger, Stock, or Partnership Acquisition
  * Contract of Sale - Date of Contract ________
  * Inheritance - Date of Death ________ * Other: Please explain:____________
  * Creation of Lease * Assignment of a Lease  * Termination of a Lease
  Date lease began ________________
  Original term in years (including written options) ________
  Remaining term in years (including written options) ________
C. Was only a partial interest in the property transferred? * Yes * No If yes, indicate the percentage transferred ______________%

Please answer, to the best of your knowledge, all applicable questions, sign and date. If a question does not apply, Indicate with “N/A”.
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PART Ill: PURCHASE PRICE AND TERMS OF SALE
A. CASH DOWN PAYMENT OR Value of Trade or Exchange (excluding closing costs) Amount$______________
B. FIRST DEED OF TRUST @ ______% interest for _____years. Pymts/Mo.$ ________ (Prin. & lnt only) Amount $_____________
  * FHA  * Fixed Rate  * New Loan
  * Conventional  * Variable Rate  * Assumed Existing Loan Balance
  * VA  * All inclusive D.T. ($___ Wrapped)  * Bank or Savings & Loan
  * Cal-Vet  * Loan Carried by Seller  * Finance Company
 Balloon Payment  * Yes  * No  Due Date ______ Amount $ ______
C. SECOND DEED OF TRUST @ ______% interest for_____ years. Pymts/Mo.=$  (Prin. & lnt only) Amount $_____________
  * Bank or Savings & Loan  * Fixed Rate    * New Loan
  * Loan Carried by Seller  * Variable Rate   * Assumed Existing Loan  Balance
 Balloon Payment  * Yes  * No Due Date _______ Amount $ _______
D. OTHER FINANCING: Is other financing involved not covered in (b) or (c)  above?  * Yes   * No  Amount $_______________
 Type_______ @ ________% interest for years. Pymts./Mo.=$______(Prim. &  Int. only)
  * Bank or Savings & Loan  * Fixed Rate   * New Loan
  * Loan Carried by Seller  * Variable Rate   * Assumed Existing Loan  Balance
 Balloon Payment  * Yes  * No  Due Date _____ Amount $ _______
E. IMPROVEMENT BOND  * Yes  * No  Outstanding Balance:  Amount $_____________
F. TOTAL PURCHASE PRICE (or acquisition price, if traded or exchanged include  real estate commission if paid.)
 Total Items A through E $_____________
G. PROPERTY PURCHASED  * Through a broker * Direct from seller * Other  (explain)___________________________________
 If purchased through a broker, provide broker’s name and phone number: ______
 ___________________________
 Please explain any special terms or financing and any other information that  would help the Assessor understand the purchase price and terms of sale.
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PART IV: PROPERTY INFORMATION
A. IS PERSONAL PEROPERTY INCLUDED IN PURCHASE PRICE
(other than a mobile home subject to local property tax)? * Yes  * No
If yes, enter the value of the personal property included in the purchase price $ _____ (Attach itemized list of personal property).
B. IS THIS PROPERTY INTENDED AS YOUR PRINCIPAL RESIDENCE?:
* Yes  * No, If yes, enter date of occupancy _____/_____/_____ or intended occupancy _____/_____/_____.
C. TYPE OF PROPERTY TRANSFERRED:
* Single-family residence   * Agricultural   * Timeshare
* Multiple-family residence (no. of units: _____)  * Co-op/Own-your-own
* Mobilehome  * Commercial/Industrial  * Condominium
* Unimproved lot   * Other (Description: ____________________________)
D. DOES THE PROPERTY PRODUCE INCOME?  * Yes  * No
E. IF THE ANSWER TO QUESTION D IS YES, IS THE INCOME FROM:
* Leas/Rent  * Contract  * Mineral Rights  * Other – Explain: _____________________________________________
F. WHAT WAS THE CONDITION OF PROPERTY AT THE TIME OF SALE?
* Good  * Average  * Fair  * Poor
Enter here, or on an attached sheet, any other information that would assist the Assessor in determining the value of the property such as the physical condition of the property, restrictions, etc.
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I certify that the foregoing is true correct and complete to the best of my knowledge and belief.

Signed ________________________________________________ Dated ____________
 NEW OWNER/CORPORATE OFFICER

Please Print Name of New Owner/Corporate Officer _____________________________

Phone Number where you are available from *:00 a.m. – 5:00 p.m. (___)_____________
 (NOTE: The Accessor may contact you for further information)
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If a document evidencing a change of ownership is presented to the recorder for recordation without the concurrent filing of a preliminary change of ownership report, the recorder may charge an additional recording fee of twenty dollars ($20).









No guidelines are available for this form at this time.