Proposition 58
Parent/Child Exclusion
California Constitution - Article XIII A §2(h)
Revenue and Taxation Code §63.1
A child includes a natural child, step-child, in-law and adopted child.
Transfers from grandparents to grandchildren may also be excluded from reappraisal when both parents of the grandchild are deceased.
The transfer of the following real property between parents and children may be excluded from reappraisal:
- A principal place of residence.
- Any other real property, subject to a lifetime, cumulative limit of one million dollars.
An Application must be submitted:
- Within three years of the transfer, or
- Within six months after the mailing date of the Notice of Supplemental Assessment and, in either case,
- Before the property is subsequently sold.