May eligible family members combine their exclusion benefits?

Yes. For example, a mother and a father could combine their individual $1 million benefits to exclude from reassessment a transfer to their children of $2 million of value in real property that is not the parents' principal residence.

Show All Answers

1. May eligible family members combine their exclusion benefits?
2. Must the property qualify as the principal residence of both the transferor and the transferee?
3. What is meant by a "principal residence"?
4. What is the filing deadline for a Prop 193 claim?
5. When must I file my claim for exclusion?