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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] avoiding 3.3% tax in CA Posted by gcastro on November 26, 2003 at 3:08 PM Ward, I know that forming a revocable trust in CA does not exempt you from The 3.3% when selling. However I would like to hear your opinion on this reasoning. I was reading the definition of a revocable trust vs. Irrevocable trust, and realized, that If I purchased a property subject to, using the THT method, and have the Seller assign me 100% of the interst of the trust, that this transaction should be exempt of the 3.3% tax when selling. Why? Becouse the seller cannot revoke the trust. Isn't that an irrevocable trust? I think it would be debatable in an audit with the IRS don't you tink? Anyways, I wonder if that is why the escrow company that I am working with never charges me the 3.3%, assuming it is an irrevocable trust rather than a revocable, when it clearly says on the deed that it was a revocable trust. ? Follow Ups: Tax avoidance Ward-CA- 5:15 PM, 11/26/03 (0) Post a Followup: Name : E-Mail : Subject : Comments: : Ward, I know that forming a revocable trust in CA does not exempt you from The 3.3% when selling. However I would like to hear your opinion on this reasoning. I was reading the definition of a revocable trust vs. Irrevocable trust, and realized, that If I purchased a property subject to, using the THT method, and have the Seller assign me 100% of the interst of the trust, that this transaction should be exempt of the 3.3% tax when selling. Why? Becouse the seller cannot revoke the trust. Isn't that an irrevocable trust? I think it would be debatable in an audit with the IRS don't you tink? Anyways, I wonder if that is why the escrow company that I am working with never charges me the 3.3%, assuming it is an irrevocable trust rather than a revocable, when it clearly says on the deed that it was a revocable trust. ? Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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