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How is a property held in a trust affected by Proposition 19?

The administration of a trust is governed by the trust instrument itself. For properties held in trusts, Revenue and Taxation Code section 61(h) provides that a change in ownership occurs when any interests in real property vest in persons other than the trustor or the trustor's spouse or registered domestic partner when a revocable trust becomes ... See More

TodayWeBuy · Topic · 27 days · 933 views
OpenHouseOn.com LLC, Camarillo, CA
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LLC for Rental Property: Good or Bad?

A Limited Liability Company, or LLC, is a business entity that has the following advantages when used for rental properties:

1. Limits your personal liability.

If someone files a lawsuit against you, your rental property and personal property are at risk to settle any lawsuit. But with a LLC, only the properties in the LLC ... See More

Last Liked - 3 months ago by TodayWeBuy

TodayWeBuy · Topic · 3 months · 2216 views
OpenHouseOn.com LLC, Camarillo, CA
805-586-3445 · Email · Text · Message · Be Neighbors

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California Proposition 19 Deadlines: 12/31/2020 and 2/16/2021

Prop 15 got all the attention in California, but Prop 19 will have a major impact.

The California Realtors Association spent $35M and others added $15M to get this proposition passed while the opposition spent only $45K. For Realtors, it means more business, more sales, more commissions because even if a child wants to move back into ... See More

TodayWeBuy · News · 21 months · 24621 views
OpenHouseOn.com LLC, Camarillo, CA
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California Prop. 15, 19, and 21 Deal With Real Estate

Prop. 15 - Commercial Property Tax

Proposition 15 would assess property tax at market value rates for commercial and industrial properties phased in over a 3 year period that are over $3 million in holdings. $12.5 Billion dollars would go to local governments and K-12 schools if passed. This proposition was placed on the ballot by ... See More

Last Liked - 23 months ago by TodayWeBuy

TodayWeBuy · News · 23 months · 26159 views
OpenHouseOn.com LLC, Camarillo, CA
805-586-3445 · Email · Text · Message · Be Neighbors

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LA Times Recommends: Yes on 15, No on 19

Proposition 15 taxes commercial and industrial properties at today’s market rate value instead of their value in 1978 plus %2 per year increase. Properties under $3 million are not impacted.

Proposition 19 eliminates the tax break passed onto homeowners who inherit properties from their parents and allows homeowners 55 and over to ... See More

TodayWeBuy · News · 23 months · 24919 views
OpenHouseOn.com LLC, Camarillo, CA
805-586-3445 · Email · Text · Message · Be Neighbors

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