Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
625.0000 PARENT-CHILD TRANSFER
625.0120 Life Estate. Transfers to children from the predeceased spouse's (mother's) Marital Trust and surviving spouse's (father's) Survivor's Trust occur on the death of the surviving spouse (father) under Revenue and Taxation Code section 61(g), where the surviving spouse is the lifetime beneficiary of both Trusts. Though mother died before the effective date of the parent-child exclusion, the children held only a future beneficial interest (remainder interest) in the Trusts' properties, until father's life estate terminated and present interests transferred to the remainder persons (children). Since father's death was after the effective date of Proposition 58 (November 6, 1986), the exclusion is applicable to the transfer from each parent. C6/19/1987; C 9/30/1993; C 12/16/1993.