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Proposition 58 - Parent-Child Transfer  Printable Version
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  • Real estate that is transferred from parent(s) to child(ren), or from child(ren) to parent(s) may be excluded from reassessment.

  • The established Prop. 13 taxable value is not affected by the transfer.

  • The new owner's taxes are calculated on the established Prop.13 value, instead of the current market value when the property is acquired.

  • $1 million limit (taxable value) on transfers of non-principal residence property

  • No dollar limitation on the original owner's principal residence

  • Generally, transfers between legal entities (i.e., corporations, partnerships) that are owned by parents or children do not qualify.

Proposition 193 - Grandparent-Grandchild Transfer  Printable Version
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  • Real estate that is transferred from grandparent(s) to their grandchild(ren) may be excluded from reassessment

  • Parents of the grandchild must be deceased as of the date of transfer

  • Taxes are calculated on the established Prop.13 value

  • $1 million limit (taxable value) on transfers of non-principal residence property

  • No dollar limitation on grandparent's principal residence

  • Generally, transfers directly between legal entities (i.e., corporations, partnerships) that are owned by grandparents do not qualify
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