What is Proposition 193?

Proposition 193 provides tax relief for transfers between grandparent and grandchild.

If you are grandparent or grandchild that is going to be either receiving property or handing down property, please take a look at the eligibility requirements.

Eligibility requirements:

1. The real property must be owned by the eligible transferor who is the grandparent.

2. You must be a grandchild whose parent(s) qualify as the deceased child(ren) of the grandparents as of the date of transfer, and you must be the decedent’s child.

3. You must complete a Claim for Reassessment Exclusion for Transfer from Grandparent to Grandchild form for a gift or purchase of real property from grandparent to grandchild.

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Information is provided from the Los Angeles County Office of the Assessor. VB Realty doesn’t own any information provided. Used for informational and marketing purposes.