The California Claim For Reassessment Exclusion For Transfer From Grandparent To Grandchild (Alameda County) is a program that allows homeowners to transfer their residential real property to a grandchild without reappraisal or reassessment. This program is available to all counties in California but is especially beneficial to Alameda County homeowners. The program allows homeowners to transfer a primary residence to a grandchild without the reassessment of the property taxes associated with the property. The property must be used as the grandchild’s primary residence for a minimum of three years after the transfer of ownership. The exclusion is limited to $1 million of the full cash value of the property. To qualify, the transfer of ownership must occur between the grandchild and the grandparent, with no other person having an ownership interest in the property. The grandparent must have owned and occupied the property as their primary residence for at least one year prior to the transfer of the ownership. The California Claim For Reassessment Exclusion For Transfer From Grandparent To Grandchild (Alameda County) is a great way to help transfer real property without the burden of reassessment and higher property taxes.
California Claim For Reassessment Exclusion For Transfer From Grandparent To Grandchild (Alameda County)
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