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The move of the capital from Granada to Cordoba should require not only ownership but control, too.
And in FtG it is possible to change the cityname to Cordoba:

#(1420-1820) The conquest of Tullaytillah and Cordoba
event = {
id = 3000003
trigger = {
owned = { province = 439 data = -1} #Toledo
control = { province = 439 data = -1}
}
random = no
country = GRA
name = "EVENTNAME3000003" #The conquest of Tullaytillah and Cordoba
desc = "EVENTHIST3000003"
#-#In 1085, the city of Toledo was captured, and in 1236 Cordoba fell to the same fate from the northern Christian rulers. These were once great cities of Islam, but under the Christian rule much of what was once great was destroyed. Cordoba was once one of the holiest cities in the world and the seat to the Caliphate of the Ummayeds. The city was the birth place of Averros and Miamonides, men of great knowledge. Cordoba once boasted more than seventy libraries, five bazaars, street lighting and over five-hundred-thousand tenets. Never again would it rise to such prominence. However it still remained an important city to Muslims in the west, mostly of Berber descent. Many still clung to dreams of the day when they could once again bring it to light, but others looked to the future and the new seat of power in Granada.

date = { day = 1 month = june year = 1420 }
offset = 30
deathdate = { year = 1820 }

action_a = {
name = "ACTIONNAME3000003A" #No, Granada is the future
command = { type = stability value = -1 }
command = { type = domestic which = aristocracy value = 1 }
command = { type = domestic which = innovative value = 1 }
command = { type = vp value = 50 }
command = { type = relation which = TUR value = 25 }
command = { type = relation which = YEM value = 25 } #Yemen
command = { type = relation which = IRA value = 25 } #Irak
}
action_b = {
name = "ACTIONNAME3000003B" #Toledo has been liberated. Let's move our capital there
command = { type = stability value = -1 }
command = { type = domestic which = aristocracy value = -1 }
command = { type = domestic which = innovative value = -1 }
command = { type = domestic which = centralization value = -1 }
command = { type = capital which = 439 }
command = { type = cityname which = 439 value = "Cordoba" }
command = { type = provincetax which = 439 value = 1 }
command = { type = provincemanpower which = 439 value = 1 }
command = { type = provincetax which = 444 value = -1 }
command = { type = provincemanpower which = 444 value = -1 }
command = { type = vp value = 50 }
command = { type = relation which = TUR value = -25 }
command = { type = relation which = YEM value = -25 } #Yemen
command = { type = relation which = IRA value = -25 }
command = { type = setflag which = Toledo_Capital }
}
}
 
The change to isvassal = no in 3000004 looks good. But be aware that the commented triggers in 3000001 and 3000002 were checking whether Granada is overlord of any Iberian country, not vassal.

It could be replaced with isoverlord = no, although that would stop the events from firing if e.g. Granada somehow vassalized a North African country. It looks like these events are intended to provide a boost to a player-controlled fantasy Granada, so we wouldn't want to discourage early conquest.
 
The change to isvassal = no in 3000004 looks good. But be aware that the commented triggers in 3000001 and 3000002 were checking whether Granada is overlord of any Iberian country, not vassal.

It could be replaced with isoverlord = no, although that would stop the events from firing if e.g. Granada somehow vassalized a North African country. It looks like these events are intended to provide a boost to a player-controlled fantasy Granada, so we wouldn't want to discourage early conquest.
Oh. I thought that all events checked for Fantasy Granada that it had ended the castilian (or other iberian christian) overlordship to get those events.

Strange. Does the trigger to see if Granada is the overlord of the iberian christians make sense to stop those events from happening? I find them helpful if not chosing the historical a choice. The event 3000001 can fire already 1420-1460 which is very soon to check if vassaled Granada has turned it around and became overlord of CAS/ARG/POR/NAV...

Could it be that the triggers in 30000001 and 2 are mistyped and actually did try to work like in 3000004?

Are the triggers for vassalage within the NOT combined by OR or AND? Because if AND it certainly would not make sense to check that all 4 iberian christians are not the vassal of GRA to prevent helpful events from firing...

The event was originally created by someone unmerged in the EU2 AGCEEP Fantasy Granada thread