Prop 58 provides tax relief for parent to child transfers. If you are a parent or child and are planning to hand over real property, please take a look at the eligibility requirements to see if Proposition 58 can help you and your family.
1. The real property must be owned by the eligible transferor who is either the parent or child.
2. You must be a parent or child. A child may be a son, daughter, son-in-law, daughter-in-law, stepchild , or child adopted before the age of 18.
3. Spouses of eligible children are also eligible until divorce or, if terminated by death, until the remarriage of the surviving spouse, stepparent, or parent-in-law.
4. You must complete a Claim for Reassessment Exclusion for Transfer between Parent and Child form for a gift or purchase of real property between parent and child.
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. BRE#01464124 BRE#01927445
Absolutely charming, remodeled and upgraded 4 bedroom, 1.5 bath Santa Fe Springs home located on a corner lot of a quiet cul-de-sac and walking distance to Santa Fe Springs Park. With 1,632 sqft of living space, this open concept floor plan is an entertainer’s dream. It features new laminate flooring, new paint, central A/C,Read more…
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