Thanks Brian for the very helpful answer. The parent/child property tax reassessment exclusion is exactly what I'm looking to take advantage of.
I just found the below info on the CA gov site. Do you think it still means that we need to do 2-step transfer? Or do they only mean "via trust" then the trust grantor passes away?
> http://www.boe.ca.gov/proptaxes/faqs/propositions58.htm#4 > Will a transfer via a trust qualify for this exclusion?
> Yes. For property tax purposes, we look through the trust to the present beneficial owner. When the present beneficial ownership passes from a parent to a child, this is a change in ownership that is eligible for the parent-child exclusion.
Asker
Posted over 13 years ago.
Thanks Brian for the very helpful answer. The parent/child property tax reassessment exclusion is exactly what I'm looking to take advantage of.
I just found the below info on the CA gov site. Do you think it still means that we need to do 2-step transfer? Or do they only mean "via trust" then the trust grantor passes away?
> http://www.boe.ca.gov/proptaxes/faqs/propositions58.htm#4
> Will a transfer via a trust qualify for this exclusion?
> Yes. For property tax purposes, we look through the trust to the present beneficial owner. When the present beneficial ownership passes from a parent to a child, this is a change in ownership that is eligible for the parent-child exclusion.