Understanding & Signing The
Preliminary Change of Ownership Report (PCOR)
PCOR Is A County Form That Stands For Preliminary Change of Ownership Report
For California real estate we also supply a document called a Preliminary Change of Ownership Report or PCOR for short:
A PCOR Must Be Submitted With Every Deed In California
In order to record your deed in California, it must be accompanied by a signed Preliminary Change of Ownership Report, which we also prepare as part of your trust package. The main purpose of the PCOR is to inform the county what type of transfer is occurring. Other states have similar forms for similar purposes. In California and almost every state you are essentially informing them it is a transfer to your revocable living trust and thus exempt from reassessment.
Simply Verifying That It Is A Transfer To Your Living Trust (which are exempt from re-assessment)
In California, the PCOR is a standard, two-page form used for all types of recorded documents and thus it has multiple yes/no choices. You’ll find “yes” checked next to the choice indicating that it is a transfer to your revocable living trust — and “no” checked for the rest.
The Rest Is Just Basic Information
We also fill in some other basic information towards the top of page one, such as who the transferor is: (you); who the transferee is: (your trust); the property address, the assessor’s parcel number; and your contact information. It is also a good idea to note the date of the deed on line 2a near the top of page 2. Other than that no other information is required or applicable and thus the rest of the form is intentionally left blank.
Sign, Date & Print Your Name Where Indicated (Only One Spouse Should Sign)
Be sure to date, sign and print your name where indicated towards the bottom of page 2. Since the county only wants one signature, for those of you that are married, either spouse may sign but not both.
For property located in Santa Clara County, we are allowed to use a customized, more straightforward one page Change of Ownership Statement. It gets right to the point of stating that it is an exempt transfer to your revocable living trust. This customized form also sets forth the same basic information as to who the transferor and transferee is, the property address, the assessor’s parcel number; and your contact information.
To complete the Santa Clara County Change of Ownership form you should first fill in the date of the deed and then sign and date the form. Since only one person should sign we, arbitrarily select the husband for married couples.