Dear friends, family and clients:
We wanted to make you aware of a recent legislative change that will go into effect in the new year. The California State Senate passed the Building Homes and Jobs Act (SB-2). The bill’s purpose is to provide funding for affordable housing in California, it will be funded by an additional $75 fee to essentially all deed transfers in California effective January 1st 2018. This is on top of already existing deed transfer and recording fees.
If you were planning to make changes to your estate plans, trusts, or have pending documents, we urge you to do so before the end of the year to avoid this additional fee which can be up to $225 a transfer. If you would like to view the legislation in full click here.
If you have any questions or concerns, feel free to contact us.
We look forward to hearing from you soon!
Law & Stein, LLP