CA Property Transfers to Grandchildren

Propositions 58 & 1931. These constitutional initiatives provide property tax relief for real property transfers between parents and children and from grandparents to grandchildren. In general, Proposition 58 states that real property transfers, from parent to child or child to parent, may be excluded from reassessment. Proposition 193 expands this tax relief to include transfers from grandparent(s) to grandchild(ren). In both cases, a claim must be filed within three years of the date of transfer to receive the full benefit of the exclusion. To take advantage of this you MUST file a “Claim for Reassessment Exclusion” available from the County Tax Assessor.