Preliminary Change of Ownership Report
A Preliminary Change of Ownership Report (PCOR) is a legal document that officially reports changes in property ownership.
During the Probate process, when Assets and real estate property is being distributed or transferred to Heirs and Beneficiaries, a PCOR form may need to be filed with the Probate Court to notify them of the transfer of ownership.
The form provides information about the property, the deceased owner, the new owner, and the terms of the transfer. It also helps determine if a reassessment of the property's value for property tax purposes is required.
Each state's probate laws may have different requirements and procedures related to a PCOR, so a Real Estate Attorney, Probate Attorney, or other real estate professional if often consulted.