Here the state
considers this a transfer and you will loose the Prop. 13 here and have it reevaluated.Please don't shoot the messenger. Here is what they say.. A transfer can be a sale or purchase, but it also can be a gift or inheritance
. Transfers that constitute a change in ownership may occur by any means, including, but not limited to, transfers that are voluntary, involuntary, or occurs by operation of law
; transfers by grant, gift, devise, inheritance, trust, contract of sale, addition or deletion of an owner, or property settlement. Payment or consideration for the property is not required. If you look at the web page below you will see that this does not qualify for any exemptions such as parent -child
.See item 3 for exemptions.. https://www.boe.ca.gov/proptaxes/faqs/changeinownership.htm#1 I appreciate the chance to get you the information you asked for, again please don't shoot the messenger the law is clear here that this is a transfer and unfortunately it does not appear to make any of the exclusions/exemptions.