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Preliminary Report Overview
A Buyer in Riverside County must complete two critical "preliminary" documents when purchasing a property:
the Preliminary Title Report
(provided by your title company)
&
the Preliminary Change of Ownership Report (PCOR) (required by the county assessor).
1. The Preliminary Change of Ownership Report (PCOR)
The PCOR (Form BOE-502-A) is mandated by CA state law to notify the Riverside County Assessor-County Clerk-Recorder that ownership of real property is changing.
Purpose:
county uses reported purchase price and terms to calculate your new base-year property tax bill
Filing Requirement:
must be submitted to the County Recorder's Office at the time the deed is recorded
What to Expect:
disclose whether you intend to occupy the home as your primary residence, the exact purchase price, and whether any personal property (like furniture or appliances) was included in the sale
Official Forms:
Download a blank sample via the
California State Board of Equalization
or
review Riverside County instructions from the Assessor-County Clerk-Recorder.
2. The Preliminary Title Report (The "Prelim")
issued by your escrow or title company, the prelim acts as a preview of the title policy they are willing to issue after the close of sale
Purpose:
provides a comprehensive snapshot of the property's legal and financial standing
What to Expect:
details current recorded ownership, property boundaries, outstanding property taxes, and any encumbrances that transfer with the property (such as mortgages, mechanics' liens, easements, or neighborhood CC&Rs)
What to Look For:
Buyers use this document to spot red flags;
Buyer(s) should review it closely with your agent or real estate attorney to ensure the seller has the legal right to sell and that there are no hidden restrictions that limit how you can use your new property
courtesy of Lawyers Title (with SAMPLE)
All information is deemed reliable yet not guaranteed.
Buyers and sellers should conduct their own due diligence and consult with qualified professionals before making decisions.