Straight Up Mortgage Talk

The Advantages & Disadvantages of Prop 19


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- What’s the major top 3 bullet points for prop 19? What are the advantages and what are the disadvantages?

- If a parent owns a rental property (non-owner occupied) which is currently in a trust, could they add their adult children to the title as tenants-in-common in order to protect it from reassessment upon the death of the parent?

- Can people still use Prop 60/90 Prop 58 and 193 until Prop 19 goes into effect in February?

- What if the parent dies and the recipient child will be using the property as their own primary residence, but the child is not in a position to occupy the property within a year of the parent’s death due to working in another area, etc. What then?

- Follow up question from Charlene: Could they rent it out but make certain they lived in it two of the 5 years and then it would qualify as their primary residence?

- Are there any questions you can think of that are important to answer regarding prop 19?

Other questions from the internet:

- Is CA Prop 19 retroactive?
- How will prop 19 affect inherited property?
- Does Prop 19 apply to rental property?
- How does Prop 19 affect Prop 13?

Reach out to Peggy Hosking:

https://www.bbklaw.com/our-team/margaret-a-hosking

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Straight Up Mortgage TalkBy Tim Harrison