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How can you avoid negative tax ramifications for the transfer of the title and loan of a property from parent to a child in California for a property that was purchased 4 years ago?
Wiki User
∙ 17y ago
You need to file a Propositon 58 with the Assessor's office. This is an exclusion for reassessment when the transfer of the real property is between parent and child. To get the full exclusion you must file within 3 years of the tranfer/recoradation, otherwise the exclusion would begin with the current fiscal year.
Wiki User
∙ 17y ago
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