My grandparents transferred there house to my mother. My mother filed for parent to child transfer and kept the house under prop 13. My mother has put the house in a trust that gives ownership of the house equally to my sister and I when she passes. We all currently use the house as our primary residence. Can we still keep the house under prop 13 when ownership is transferred to my sister and I?
There isn't a limit in how maby times a property can be transferred and still qualify for either the parent-child or grandparent-grandchild exclusion. So when your mom's trust distributes the property it should still qualify for a parent-child exclusion from reassessment for Prop 13 purposes.
All information provided is for general purposes only and does not establish an attorney-client relationship.
I believe you will be fine under Prop 13 guidelines. There are no limits on the number of times it can be transferred. However, to be on the safe side, you may want to consult a California attorney who practices Real Estate Law.
I do not see an issue, based on your facts, under Proposition 13. If you having additional or continuing concerns, consider consulting with a local real estate attorney.
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