The following is an abbreviated guide for seniors. Vicki Stanton would be happy to send/bring you a complete guide free of charge. Call 714/809-5787 or click to email.
PROPOSITION 58 provides reassessment exclusion for a real property transfer between parent and child (or stepchild, or son/daughter-in law). The seller’s principal residence may be totally excluded from reassessment and need not be the principal residence of the person who acquires the property.
PROPOSITION 93 provides a similar assessment exclusion for real property transferred between grandparents and grandchildren .
Information deemed reliable but not guaranteed and is subject to change. For filing forms and more information, contact your local County Assessor or the California State Franchise Tax Board at www.ftb.ca.gov or (800)868-4171