Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
625.0000 PARENT-CHILD TRANSFER
625.0220 Trusts. A transfer of property to an irrevocable trust which grants a defeasible life estate to some of the trustors' children and a defeasible remainder interest to others qualifies for the parent/child exclusion contained in Revenue and Taxation Code section 63.1. The transfer to the trust may be gratuitous or for consideration and the life estate may be measured by the life of the trustor or one or more of the beneficiaries. C 4/18/1988.