What Is the Preliminary Change of Ownership Report (PCOR)

by | Apr 21, 2025 | Uncategorized | 0 comments

If you’ve ever bought or sold real estate in California, you may have heard your escrow officer mention something called the Preliminary Change of Ownership Report, or PCOR. It might sound like just another stack of paperwork, but this document plays an important role in the transfer of property—and in making sure the County Assessor has everything they need to keep things running smoothly.

So what exactly is the PCOR, and why should you care? Let’s break it down.

What Is the PCOR?

The PCOR is a form that must be submitted to the County Assessor whenever a property changes hands. This includes sales, transfers between family members, gifts, and even some trust-related changes.

Its main job? To give the Assessor’s Office all the necessary details about the transaction, so they can determine whether the property’s value needs to be reassessed.

What Information Does It Include?

The form asks for a few key pieces of information:

  • The names of the buyer and seller
  • The type of transfer (sale, gift, inheritance, etc.)
  • The purchase price (if applicable)
  • Whether the new owner will occupy the property as a primary residence
  • Details about any loans or financing involved

It might seem simple, but this information helps the county calculate property taxes accurately and determine if any exemptions apply.

Why It Matters

Filing the PCOR is more than just checking a box—it directly impacts the new owner’s property tax bill. Here’s why:

  • If the property is reassessed based on the sale price, the new owner’s taxes could increase
  • If the transfer qualifies for an exemption (like a parent-to-child transfer), the PCOR is how you apply for that benefit
  • Filing the form at the time of recording is free, but failing to do so could result in penalties or delays

Got Questions?

At Closed Escrow, we’re all about making the complex feel simple. Whether you’re a first-time buyer, seasoned agent, or just curious about the closing process and the PCOR form, we’re always happy to answer your questions and keep your transaction on track.

Reach out to your escrow officer anytime—we’re here to help.