California voters last month approved Proposition 19 by a slim margin, making significant changes to the tax provisions governing transfers of a principal residence from parents to their children. These changes take effect on February 16, 2021, and could impact existing California property transfer planning by subjecting such transferred residences to property tax reassessment.
California Proposition 19 limits protections for intrafamily property transfers
December 14th 2020 08:36 AM • By Shelley Giberson
Shelley Giberson
Partner
