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  • Parent Child Transfer Form - Lassen County

Get Parent Child Transfer Form - Lassen County

BOE-58-AH (FRONT) REV.8 (10-02) LASSEN COUNTY ASSESSOR 220 S LASSEN ST, SUITE 4 SUSANVILLE, CA 96130 PHONE: 530-251-8241 FAX: 530-251-8245 CLAIM FOR REASSESSMENT EXCLUSION FOR TRANSFER BETWEEN PARENT.

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How to fill out the Parent Child Transfer Form - Lassen County online

Completing the Parent Child Transfer Form is an essential step for transferring property between parents and children in Lassen County. This guide provides clear, step-by-step instructions to help you fill out the form accurately and efficiently online.

Follow the steps to complete the Parent Child Transfer Form correctly.

  1. Press the ‘Get Form’ button to obtain the form and open it in your chosen online editor.
  2. Fill out Section A, starting with the assessor's parcel number and the property's address. Ensure accuracy as this information identifies the property involved in the transfer.
  3. Provide the details including the recorder's document number, date of purchase or transfer, and any probate number, if applicable. This section helps establish the timeline of the transfer.
  4. Proceed to Section B to enter the required information for the transferor(s)/seller(s). This includes the full name(s), social security number(s), and the family relationship(s) to the transferee(s).
  5. Answer the questions regarding the transferor's principal residence and any exemptions that were granted. Be precise with your answers to avoid delays.
  6. Complete Section C by providing the information for the transferee(s)/buyer(s). Enter their names and the family relationship(s), ensuring all details are clear and correct.
  7. After you have filled in all sections, review the form for any unfinished fields or mistakes. Incomplete forms may be denied.
  8. Sign and date the form at the required certification area, confirming the accuracy of the information provided.
  9. Finally, save your changes, and download or print the completed form for submission. Make sure it is sent to the appropriate address within the specified timeframe.

Complete and submit your Parent Child Transfer Form online today to ensure a smooth transfer process.

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So long as the individuals and the legal entity have the same proportional ownership interests, the real property will not be reassessed when transferred to or from the entity or the individual. A and B can transfer property owned by them 50/50 to an LLC owned by them 50/50 without reassessment.

Change in Ownership such as a purchase. Friends or family transfers that are not to a child's primary residence. Completion of new construction including new buildings or additions. An addition to the home will only add the value of the new construction to the existing assessment.

As per the Income Tax Act, 1961 when the Assessing Officer has a reason to believe that any income which is chargeable to tax has escaped assessment for any assessment year, he has the power to reassess such income and any other income which comes to his notice subsequently in course of the proceeding[2].

$1 Million Limit. Under current law, each person may transfer up to $1 million of factored base year value8 over a lifetime to any combination of parents or children. Any real property that was not the transferor's principal residence at the time of transfer to a child qualifies under the $1 million exclusion.

For transfers after February 16, 2021, the Parent-Child Exclusion allows parents to transfer a principal residence or a family farm to their children without full reassessment, if the child makes the home their principal residence after the transfer or continues to use the property as a farm.

Properties would be fully reassessed in value only when a change of ownership occurs either by death, gift, or sale. In other words, when the property is “transferred,” or what the California State Board of Equalization calls a “change in ownership.”

The transfer of real property between parents and children or from grandparents to grandchildren can be excluded from reappraisal for property tax purposes. The principal place of residence and up to a maximum of $1,000,000 in assessed value of any additional property may be transferred without a tax increase.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
Privacy Notice
Legal Hub
Content Takedown Policy
Bug Bounty Program
About Us
Help Portal
Legal Resources
Blog
Affiliates
Contact Us
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate WorkFlow
DocHub
Instapage
Social Media
Call us now toll free:
+1 833 426 79 33
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232