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Proposition 13’s “Change of Ownership” and Common Ownership

When transferring or constructing real property, taxes are a real concern.  However to alleviate this concern, and beneficial to the elderly, in 1978 California enacted Proposition 13.  To prevent higher property taxes, Proposition 13 limits increases to a real property’s assessed value whenever the real property goes up in value. Specifically, in the event real property increases in value, Proposition 13 limits the annual increase in assessed value to a maximum 2% annual inflation factor, except in the event of a “change in ownership” or a “new construction.”  Thus, “change in ownership” or “new construction” are key terms to keep in mind.  In a change of ownership scenario, depending on the current fair market value, a property’s assessment could go up or down.  As for

Posted in Change of Ownership, Ownership, Real Estate Attorney Los Angeles

Zachary D. Schorr’s Expert Appearance on the Dr. Phil Show

Zachary D. Schorr’s Expert Appearance on ABC’s Nightline

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Zachary Schorr Superlawyers

Zachary D. Schorr has been named to the Southern California Super Lawyers (Rising Stars) list for attorneys in Real Estate for 5 straight years - 2012, 2013, 2014, 2015 and 2016. Each year, no more than 2.5 percent of the lawyers in the state receive this honor. In 2016 he was also included as one of the top 100 lawyers in Southern California in this category. The selection for this respected list is made by the research team at Super Lawyers.

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If you are currently involved in a real estate dispute, either commercial real estate or residential, and are looking for a Real Estate Attorney in Los Angeles with a cost-effective, results oriented approach designed to meet your case's specific needs, contact the attorneys at Schorr Law. Our real estate firm has the specific knowledge and experience necessary to get you the best possible results.

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Zachary Schorr Avvo Client's Choice Award