I executed a living trust naming my registered domestic partner as the primary beneficiary of my estate. Will my partners inheritance by trust be excluded from change of ownership reassessment?
Yes. Revenue and Taxation Code section 62(p) excludes from change in ownership transfers of real property between registered domestic partners that occur on or after January 1, 2000 (the domestic partnership must be registered with the California Secretary of State to qualify). For transfers that occurred between January 1, 2000 and January 1, 2006 that resulted in a reappraisal, the county assessors are required to reverse the reassessments and provide prospective relief if the taxpayer files a timely claim.
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