311 Andes Way Corona, CA 92881 Wonderful single-story home in one of South Corona’s best neighborhoods! The front door features a RING doorbell & opens to a spacious living room with soaring cathedral ceilings, new ceiling fan & multiple windows flooding the room with natural light. An impressive built-in architectural partition leads to anRead more…
What is Proposition 58?
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.
The eligibility requirements are:
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