Fillable PRELIMINARY CHANGE OF OWNERSHIP REPORT

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PRELIMINARY CHANGE OF OWNERSHIP REPORT

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BOE-502-A (P1) REV. 15 (02-21) ASSR-70 (REV. 2-21)
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 and Taxation
Code. A P
reliminary Change of Ownership Report must be led with each
conveyance in the County Recorder’s oce for the county where the
property is located.
NAME AND MAILING ADDRESS OF BUYER/TRANSFEREE
(Make necessary corrections to the printed name and mailing address)
ASSESSOR'S PARCEL NUMBER
SELLER/TRANSFEROR
BUYER’S DAYTIME TELEPHONE NUMBER
( )
BUYER’S EMAIL ADDRESS
STREET ADDRESS OR PHYSICAL LOCATION OF REAL PROPERTY
YES NO
This property is intended as my principal residence. If YES, please indicate the date of occupancy
or intended occupancy.
MO DAY YEAR
Are you a disabled veteran or a unmarried surviving spouse of a disabled veteran who was
YES NO
compensated at 100% by the Department of Veterans Aairs?
MAIL PROPERTY TAX INFORMATION TO (NAME)
MAIL PROPERTY TAX INFORMATION TO (ADDRESS)
CITY STATE ZIP CODE
PART 1. TRANSFER INFORMATION Please complete all statements.
This section contains possible exclusions from reassessment for certain types of transfers.
YES NO
A. This transfer is solely between spouses (addition or removal of a spouse, death of a spouse, divorce settlement, etc.).
B. This transfer is solely between domestic partners currently registered with the California Secretary of State (addition or removal of
a partner, death of a partner, termination settlement, etc.).
*
C. This is a transfer:
between parent(s) and child(ren) between grandparent(s) and grandchild(ren).
Was this the transferor/grantor’s principal residence? YES
NO
*
D. This transfer is the result of a cotenant’s death. Date of death ___________________________
E. This transaction is to replace a principal residence owned by a person 55 years of age or older.
Within the same county?
YES
F. This transaction is to replace a principal residence by a person who is severely disabled.
Within the same county?
YES
NO
*
NO
*
G. This transaction is to replace a principal residence substantially damaged or destroyed by a wildre or natural disaster for which
the Governor proclaimed a state of emergency. Within the same county?
*
YES NO
H. This transaction is only a correction of the name(s) of the person(s) holding title to the property (e.g., a name change upon marriage).
If YES, please explain:
I. The recorded document creates, terminates, or reconveys a lender's interest in the property.
J. This transaction is recorded only as a requirement for nancing purposes or to create, terminate, or reconvey a security interest
(e.g., cosigner). If YES, please explain:
K. The recorded document substitutes a trustee of a trust, mortgage, or other similar document.
L. This is a transfer of property:
1. to/from a revocable trust that may be revoked by the transferor and is for the benet of
red domestic partner.
2. to/from an irrevocable trust for the benet of the
the transferor, and/or the transferor's spouse registe
grantor’s/trustor’s registered domestic partner.creator/grantor/trustor and/or grantor's/trustor’s spouse
M. This property is subject to a lease with a remaining lease term of 35 years or more including written options.
N. This is a transfer between parties in which proportional interests of the transferor(s) and transferee(s) in each and every parcel
being transferred remain exactly the same after the transfer.
O. This is a transfer subject to subsidized low-income housing requirements with governmentally imposed restrictions, or restrictions
imposed by specied nonprot corporations..
*
P. This transfer is to the rst purchaser of a new building containing an active solar energy system.
Q. Other. This transfer is to ____________________________________________________________
* Please refer to the instructions for Part 1.
Please provide any other information that will help the Assessor understand the nature of the transfer.
THIS DOCUMENT IS NOT SUBJECT TO PUBLIC INSPECTION
BOE-502-A (P2) REV. 15 (02-21) ASSR-70 (REV. 2-21)
PART 2. OTHER TRANSFER INFORMATION
Check and complete as applicable.
A. Date of transfer, if other than recording date:
B. Type of transfer:
Purchase Foreclosure Gift Trade or exchange Merger, stock, or partnership acquisition (Form BOE-100-B)
Contract of sale. Date of contract: Inheritance. Date of death:
Sale/leaseback
Creation of a lease Assignment of a lease Termination of a lease Date lease began:.
Remaining term in years (including written options):
Original term in years (including written options):
Other. Please explain:
C. Only a partial interest in the property was transferred.
YES NO
If YES, indicate the percentage transferred:
%
PART 3. PURCHASE PRICE AND TERMS OF SALE
Check and complete as applicable.
A. Total purchase price $_______________
B. Cash down payment or value of trade or exchange excluding closing costs
Amount $_______________
C. First deed of trust @ ______% interest for ______ years. Monthly payment $_____________ Amount $_______________
Fixed rate
Variable rate
Bank/Savings & Loan/Credit Union
Loan carried by seller
Due date: _____________
FHA (___Discount Points)
Cal-Vet
VA (___Discount Points)
Balloon payment $_____________
D. Second deed of trust @ ______% interest for ______ years. Monthly payment $_____________ Amount $_______________
Fixed rate
Variable rate Bank/Savings & Loan/Credit Union Loan carried by seller
Balloon payment $_____________
Due date: _____________
E. Was an Improvement Bond or other public nancing assumed by the buyer?
YES
NO
Outstanding balance $_______________
F. Amount, if any, of real estate commission fees paid by the buyer which are not included in the purchase price $_______________
G. The property was purchased: Phone number:
Other. Please explain:
Through real estate broker. Broker name:
Direct from seller
From a family member-Relationship
H. Please explain any special terms, seller concessions, broker/agent fees waived, nancing, and any other information (e.g., buyer assumed the
existing loan balance) that would assist the Assessor in the valuation of your property.
PART 4. PROPERTY INFORMATION
Check and complete as applicable.
A. Type of property transferred
Single-family residence
Co-op/Own-your-own
Manufactured home
Multiple-family residence. Number of units:
Condominium
Unimproved lot
Other. Description: (i.e., timber, mineral, water rights, etc.) Timeshare Commercial/Industrial
$
B.
YES
NO
Personal/business property, or incentives, provided by seller to buyer are included in the purchase price. Examples of personal
property are furniture, farm equipment, machinery, etc. Examples of incentives are club memberships, etc. Attach list if available.
If YES, enter the value of the personal/business property:
Incentives
$
C.
$
YES
NO
A manufactured home is included in the purchase price.
If YES, enter the value attributed to the manufactured home:
YES
NO
The manufactured home is subject to local property tax. If NO, enter decal number:
D.
Lease/rent
Contract
Mineral rights Other:
YES
NO
The property produces rental or other income.
If YES, the income is from:
The condition of the property at the time of sale was:
Good Average Fair Poor
Please describe: __________________________________________________________________________________________________
E.
CERTIFICATION
I certify (or declare) that the foregoing and all information hereon, including any accompanying statements or documents, is true and correct to
the best of my knowledge and belief.
SIGNATURE OF BUYER/TRANSFEREE OR CORPORATE OFFICER DATE TELEPHONE
( )
NAME OF BUYER/TRANSFEREE/PERSONAL REPRESENTATIVE/CORPORATE OFFICER (PLEASE PRINT) TITLE EMAIL ADDRESS
The Assessor’s oce may contact you for additional information regarding this transaction.
BOE-502-A (P3) REV. 15 (02-21) ASSR-70 (REV. 2-21)
ADDITIONAL INFORMATION
Please answer all questions in each section, and sign and complete the certi
cation before ling. This form may be used in all 58 California
counties. If a document evidencing a change in ownership is presented to the Recorder for recordation without the concurrent ling of a
Preliminary Change of Ownership Report, the Recorder may charge an additional recording fee of twenty dollars ($20).
NOTICE: The property which you acquired may be subject to a supplemental assessment in an amount to be determined by the County
Assessor. Supplemental assessments are not paid by the title or escrow company at close of escrow, and are not included in lender
impound accounts. You may be responsible for the current or upcoming property taxes even if you do not receive the tax bill.
NAME AND MAILING ADDRESS OF BUYER: Please make necessary corrections to the printed name and mailing address. Enter
Assessor’s Parcel Number, name of seller, buyer’s daytime telephone number, buyer’s email address, and street address or physical
location of the real property.
NOTE: Your telephone number and/or email address is very important. If there is a question or a problem, the Assessor needs
to be able to contact you.
MAIL PROPERTY TAX INFORMATION TO: Enter the name, address, city, state, and zip code where property tax information should be
mailed. This must be a valid mailing address.
PRINCIPAL RESIDENCE: To help you determine your principal residence, consider (1) where you are registered to vote, (2) the home
address on your automobile registration, and (3) where you normally return after work. If after considering these criteria you are still
uncertain, choose the place at which you have spent the major portion of your time this year. Check YES if the property is intended as
your principal residence, and indicate the date of occupancy or intended occupancy.
DISABLED VETERAN: If you checked YES, you may qualify for a property tax exemption. A claim form must be led a nd all
requirements met in order to obtain the exemption. Please contact the Assessor for a claim form.
PART 1: TRANSFER INFORMATION
If you check YES to any of these statements, the Assessor may ask for supporting documentation.
C, D, E, F, G: If you checked YES to any of these statements, you may qualify for a property tax reassessment exclusion, which may
allow you to maintain your property’s previous tax base. A claim form must be led and all requirements met in order to obtain any
of these exclusions. Contact the Assessor for claim forms. NOTE: If you give someone money or property during your life, you may be
subject to federal gift tax. You make a gift if you give property (including money), the use of property, or the right to receive income from
property without expecting to receive something of at least equal value in return. The transferor (donor) may be required to le Form 709,
Federal Gift Tax Return, with the Internal Revenue Service if they make gifts in excess of the annual exclusion amount.
H: Check YES if the reason for recording is to correct a name already on title [e.g., Mary Jones, who acquired title as Mary J. Smith, is
granting to Mary Jones]. This is not for use when a name is being removed from title.
I: Check YES if the change involves a lender, who holds title for security purposes on a loan, and who has no other benecial interest in
the property.
"Benecial interest" is the right to enjoy all the benets of property ownership. Those benets include the right to use, sell,
mortgage, or lease the property to another. A benecial interest can be held by the beneciary of a trust, while legal control of the
trust is held by the trustee.
J: A "cosigner" is a third party to a mortgage/loan who provides a guarantee that a loan will be repaid. The cosigner signs an agreement
with the lender stating that if the borrower fails to repay the loan, the cosigner will assume legal liability for it.
N: This is primarily for use when the transfer is into, out of, or between legal entities such as partnerships, corporations, or limited liability
companies. Check YES only if the individuals and the interest held by each remains exactly the same in each and every parcel being
transferred.
O: Check YES only if this property is subject to a government or nonprot aordable housing program that imposes restrictions. Property
may qualify for a restricted valuation method (i.e., may result in lower taxes).
P: If you checked YES, you may qualify for a new construction property tax exclusion. A claim form must be led and all requirements
met in order to obtain the exclusion. Contact the Assessor for a claim form.
PART 2: OTHER TRANSFER INFORMATION
A: The date of recording is rebuttably presumed to be the date of transfer. If you believe the date of transfer was a dierent date (e.g., the
transfer was by an unrecorded contract, or a lease identies a specic start date), put the date you believe is the correct transfer date. If
it is not the date of recording, the Assessor may ask you for supporting documentation.
B: Check the box that corresponds to the type of transfer. If OTHER is checked, please provide a detailed description. Attach a separate
sheet if necessary.
BOE-502-A (P4) REV. 15 (02-21) ASSR-70 (REV. 2-21)
C.
If this transfer was the result of an inheritance following the death of the property owner, please complete a Change in Ownership
Statement, Death of Real Property Owner, form BOE-502-D, if not already led with the Assessor’s oce.
PART 3: PURCHASE PRICE AND TERMS OF SALE
It is important to complete this section completely and accurately. The reported purchase price and terms of sale are important factors in
determining the assessed value of the property, which is used to calculate your property tax bill. Your failure to provide any required or
requested information may result in an inaccurate assessment of the property and in an overpayment or underpayment of taxes.
A. Enter the total purchase price, not including closing costs or mortgage insurance.
“Mortgage insurance” is insurance protecting a lender against loss from a mortgagor’s default, issued by the FHA or a private
mortgage insurer.
B. Enter the amount of the down payment, whether paid in cash or by an exchange. If through an exchange, exclude the closing costs.
“Closing costs” are fees and expenses, over and above the price of the property, incurred by the buyer and/or seller, which
include title searches, lawyer’s fees, survey charges, and document recording fees.
C. Enter the amount of the First Deed of Trust, if any. Check all the applicable boxes, and complete the information requested.
A “balloon payment” is the nal installment of a loan to be paid in an amount that is disproportionately larger than the regular
installment.
D. Enter the amount of the Second Deed of Trust, if any. Check all the applicable boxes, and complete the information requested.
E. If there was an assumption of an improvement bond or other public nancing with a remaining balance, enter the outstanding balance,
and mark the applicable box.
An “improvement bond or other public nancing” is a lien against real property due to property-specic improvement
nancing, such as green or solar construction nancing, assessment district bonds, Mello-Roos (a form of nancing that can be
used by cities, counties and special districts to nance major improvements and services within the particular district) or general
improvement bonds, etc. Amounts for repayment of contractual assessments are included with the annual property tax bill.
F. Enter the amount of any real estate commission fees paid by the buyer which are not included in the purchase price.
G. If the property was purchased through a real estate broker, check that box and enter the broker’s name and phone number. If the
property was purchased directly from the seller (who is not a family member of one of the parties purchasing the property), check the
“Direct from seller” box. If the property was purchased directly from a member of your family, or a family member of one of the parties who
is purchasing the property, check the “From a family member” box and indicate the relationship of the family member (e.g., father, aunt,
cousin, etc.). If the property was purchased by some other means (e.g., over the Internet, at auction, etc.), check the “OTHER” box and
provide a detailed description (attach a separate sheet if necessary).
H. Describe any special terms (e.g., seller retains an unrecorded life estate in a portion of the property, etc.), seller concessions (e.g.,
seller agrees to replace roof, seller agrees to certain interior nish work, etc.), broker/agent fees waived (e.g., fees waived by the
broker/agent for either the buyer or seller), nancing, buyer paid commissions, and any other information that will assist the Assessor in
determining the value of the property.
PART 4: PROPERTY INFORMATION
A. Indicate the property type or property right transferred. Property rights may include water, timber, mineral rights, etc.
B. Check YES if personal, business property or incentives are included in the purchase price in Part 3. Examples of personal or business
property are furniture, farm equipment, machinery, etc. Examples of incentives are club memberships (golf, health, etc.), ski lift tickets,
homeowners’ dues, etc. Attach a list of items and their purchase price allocation. An adjustment will not be made if a detailed list is not
provided.
C. Check YES if a manufactured home or homes are included in the purchase price. Indicate the purchase price directly attributable
to each of the manufactured homes. If the manufactured home is registered through the Department of Motor Vehicles in lieu of being
subject to property taxes, check NO and enter the decal number.
D. Check YES if the property was purchased or acquired with the intent to rent or lease it out to generate income, and indicate the source
of that anticipated income. Check NO if the property will not generate income, or was purchased with the intent of being owner-occupied.
E. Provide your opinion of the condition of the property at the time of purchase. If the property is in “fair” or “poor” condition, include a
brief description of repair needed.
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PRELIMINARY CHANGE OF OWNERSHIP REPORT

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Completed 12 November 2021

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