My parents died & the children inherited the property. Why are we receiving a notice of possible reassessment?
Death is a transfer of the decedent’s interest upon the date of death to the heirs. If the heirs or beneficiaries are children, they must submit the “Claim For Reassessment Exclusion For Transfer Between Parents & Children” form to avoid a reassessment. If the Claim Form is not submitted in a timely manner, the property will be reassessed.
