EstatePass
Property Ownership Land Use ControlsForms_of_ownershipHARD

Under California's Proposition 19 (effective February 2021), a parent transfers their primary residence to their child. Under what condition does the parent-child exclusion from reassessment still apply?

Correct Answer

C) The child must use the property as their primary residence

Proposition 19 (effective February 16, 2021) significantly narrowed the parent-child exclusion previously established by Propositions 58 and 193. Under Prop 19, the parent-child exclusion for the primary residence is preserved only if the child uses the property as their own primary residence and files a homeowner's exemption within one year. The exclusion is limited to the first $1 million of assessed value above the Prop 13 factored base year value.

Answer Options
A
The exclusion applies to all parent-child transfers of real property without any conditions
B
The exclusion was completely eliminated by Proposition 19
C
The child must use the property as their primary residence
D
The exclusion applies only if the property's value is under $500,000

Why This Is the Correct Answer

Sign up free to unlock full analysis

Why the Other Options Are Wrong

Sign up free to unlock full analysis

Deep Analysis of This Property Ownership Land Use Controls Question

Sign up free to unlock full analysis

Background Knowledge for Property Ownership Land Use Controls

Sign up free to unlock full analysis
Sign up free to unlock full analysis

Real World Application in Property Ownership Land Use Controls

Sign up free to unlock full analysis

Common Mistakes to Avoid on Property Ownership Land Use Controls Questions

Sign up free to unlock full analysis

Related Topics & Key Terms

Key Terms:

Proposition_19parent_child_exclusionreassessmentprimary_residence

Related Concepts

Building codes are government regulations that set minimum standards for construction, materials, design, and safety in buildings. They protect public health and safety by ensuring structures are built to acceptable standards.

A certificate of occupancy (CO) is an official document issued by the local building department certifying that a building complies with building codes and is safe for occupancy. It is required before a building can be legally occupied.

A conditional use permit (also called a special use permit) allows a land use that is not automatically permitted by zoning but may be allowed under certain conditions. The use must be compatible with the surrounding area.

Was this explanation helpful?

More Property Ownership Land Use Controls Questions

People Also Study

Related Articles

Practice More Questions

Access 2,000+ practice questions and pass your real estate exam.

Start Practicing