Is the transfer of real property to my grandchilds limited liability company eligible for the Proposition 193 exclusion?
• My mother was the sole beneficiary of two trusts which owned a family partnership that owned real property. I recently inherited the partnership interest via the trusts. Is this eligible for the parent-child exclusion? • My mom and dad gave me a partial interest in their real property. I applied for and was granted the parent-child exclusion. Now we want to put the property into a family partnership. Will these steps be considered as one transaction? • I recently inherited the family home, but I don’t really want to live there. Do I have to make it my principal residence to qualify for the exclusion? • My parents just gave me their house that sits on ten acres of land. Is there a limit for excluding the principal residence from reassessment? • I am over 55 and planning on selling my long-time residence to my child. Can my child benefit from the parent-child exclusion and can I also transfer my base year value Proposition 60 when I purchase a replacement property?
Related Questions
- Is the transfer of real property to my grandchilds limited liability company eligible for the Proposition 193 exclusion?
- Can transfers of real property to or from a family partnership be eligible for Proposition 58 exclusion?
- Can a transfer of real property between grandparent and grandchild qualify for this exclusion?
