Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
625.0000 PARENT-CHILD TRANSFER
625.0250 Wills. Where real property is transferred by will from a parent to her son provided the son pays a specified sum of money to his sister, an equitable charge is created giving the sister a security interest in the real property but not a beneficial interest. The son, therefore, receives the entire present beneficial interest in the real property from his parent for purposes of the parent/child exclusion and no ownership interest in the property is acquired from his sister. C 2/14/1995.