Real Property In California: It always be necessary to prepare and record a new deed make sure to transfer title of real property to your belief. It is also necessary to submit a first Change of Ownership Report with the deed notifying the local county assessor as as to if the rentals are subject to reassessment. A transfer any revocable living trust is exempt from reassessment. Real Property In California: It is necessary to prepare and record a new deed solution to to transfer title ...