So If you have inherited property from your parents, should you keep it or sell it? If you decide to keep the inherited property, how much property tax would you be paying on it? Well in certain circumstances in California, you may be allowed to transfer the property tax if certain requirements of Prop 19 are met and as long as you file the proper forms in the county. Harold Powell Best realtor in Ventura will cover the 2 conditions that need to be met and the 2 required forms you’ll need to file in order to successfully transfer the property tax. The spoiler alert is there is a limitation to the exclusion amount that I will cover with an example.

Ownership transfer within family (prop 19) - ventura county
https://assessor.countyofventura.org/...

CHAPTERS:
0:00 - Intro
1:30 - Considering keeping a parent's property
1:54 - Must have been the parent's principal residence
2:07 - Within 1 year of the transfer you need to live in it as a principal residence
2:21 - 2 form requirements that need to be filed
3:09 - There's a Limit - Full or Partial reassessment exclusion
3:25 - Full Reassessment Exclusion explained
3:47 - Partial Reassessment Exclusion explained
4:02 - Example of a Full Exclusion
4:47 - Example of a Partial Exclusion
5:43 - Working with multiple heirs

🔔 Subscribe for more great Ventura and Ventura County real estate info:    / @livinginventura  

FOLLOW ME:
FACEBOOK ➢   / haroldpowellrealestate  
WEBSITE ➢ https://www.haroldpowell.net
OR CALL/TEXT ➢ 805-572-6368

Harold Powell's Sales Team with RE/MAX Gold Coast Realtors is a team of REALTORS® serving areas throughout Ventura and Ventura County. Our specialty is home buyers who are relocating to our beautiful cities, and sellers looking to sell their home and get top dollar.

I am so grateful for all your subscriptions, so thanks for watching!

If you want to talk about Ventura or Ventura Counties real estate feel free to email me at [email protected]

And now for the legally required licensing information:
Harold Powell DRE#00934438
RE/MAX Gold Coast Realtors
5720 Ralston St. #100
Ventura, CA 93003
Call/Text (805) 572-6368
Get an Instant Home Valuation ➢ https://haroldpowell.stayventuracount...