Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2017
Property Tax Annotations
A B C D E F G H I L M N O P R S T U V W
P
625.0000 PARENT-CHILD TRANSFER
Annotation 625.0233
625.0233 Trusts—Options. With a right of first refusal, the trustee has no power or discretion to transfer the subject property to any of the trust beneficiaries without first offering the right to purchase the property as directed in the trust. If the optionee exercises his right to purchase the property for fair market value, the other beneficiaries never possessed a beneficial interest in the property. As such, the transfer of the property from mother to her son, the optionee, through the medium of a trust, qualifies for the parent-child exclusion for the full extent of the transfer, provided that all other requirements are met. C 8/19/2013.