The exclusion still exists, and it is narrower than most people remember.
California once allowed a broad exclusion from reassessment for transfers between parents and children. It was substantially narrowed, and now turns largely on whether the child makes the property their principal residence, with a cap above which reassessment applies anyway.
Whether a transfer qualifies is decided on facts that can often be arranged in advance, and almost never after the fact.
What this involves
- Whether a transfer qualifies
- The principal residence requirement
- The value cap and how it is applied
- Claim forms and their deadlines
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Also in property transfers
Who does this work
