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Michael Theo
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Prop 19 Parent Child Exclusion for Multi-Unit Property

Michael Theo
Posted

Does anyone know how the Prop 19 parent-child exclusion applies to multi-unit properties. My parents and I occupy 2 units in a 4 unit property as our primary residence. If my parents transfer the property to me will the exclusion apply to the entire property or will it be pro-rated (given that 2 units are rented to tenants)?

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