Get the free Grandparent to Grandchild Exclusion - County of San Luis Obispo - boe ca

BOE-58-G (P1) REV. 14 (05-14) CLAIM FOR REASSESSMENT EXCLUSION FOR TRANSFER FROM GRANDPARENT TO GRANDCHILD NAME AND MAILING ADDRESS (Make necessary corrections to the printed name and mailing address.)

How to fill out grandparent to grandchild exclusion

How to fill out grandparent to grandchild exclusion:

1. Gather the necessary information: Before filling out the grandparent to grandchild exclusion form, make sure you have all the required details. This includes the names of the grandparent, grandchild, and their relationship, as well as any relevant dates and addresses.
2. Obtain the appropriate form: Visit your local county assessor's office or their website to obtain the specific form for the grandparent to grandchild exclusion. These forms may vary depending on your location, so it's important to get the correct one.
3. Provide personal information: Fill out the form with your personal information, including your name, address, and contact information. This helps the assessor's office contact you if there are any questions or issues with the application.
4. Include property information: Provide the necessary details about the property that is being transferred from the grandparent to the grandchild. This includes the address, legal description, and any other relevant information that may be required.
5. Indicate the type of exclusion: Specify the type of exclusion you are seeking, which, in this case, is the grandparent to grandchild exclusion. This exemption allows for property to be transferred between these family members without triggering a reassessment of property taxes.
6. Sign and date the form: Once you have completed all the required sections, sign and date the form. Make sure to read through it carefully to ensure accuracy and completeness.
7. Submit the form: Take the filled-out form to the appropriate county assessor's office. You may need to bring additional documentation or fees, so it's advisable to check beforehand. Remember to keep a copy of the form for your records.
8. Follow up if necessary: If you don't receive any confirmation or updates within a reasonable time, reach out to the assessor's office to inquire about the status of your application.

Who needs grandparent to grandchild exclusion:

1. Individuals planning to transfer property: The grandparent to grandchild exclusion is particularly relevant for individuals looking to transfer real property to their grandchildren without triggering a reassessment of property taxes. This exclusion can help preserve the existing property tax basis, making it more affordable for the recipient.
2. Grandparents gifting property to grandchildren: Grandparents who wish to gift property to their grandchildren can take advantage of the grandparent to grandchild exclusion. By doing so, they can ensure that the property is transferred smoothly and without a significant increase in property taxes for the recipient.
3. Grandchildren receiving property: Grandchildren who are set to inherit or receive property from their grandparents can benefit from being aware of the grandparent to grandchild exclusion. Understanding this exclusion can help them navigate the process, ensuring that they are not burdened with a sudden and substantial increase in property taxes.

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