Legal Question in Real Estate Law in California

Should I Buy or Rent from my Parents?

My wife and I have rented our house from my parents for nine years, but are looking to own it now. Our rent is very reasonable for SF, but I would like the benefits of ownership and have my parents realize more income. Can my parents sell us the house for any price they want (below market), and will the property tax be reassessed if they sell?


Asked on 9/15/07, 11:33 pm

1 Answer from Attorneys
Robert L. Bennett Law offices of Robert L. Bennett

Re: Should I Buy or Rent from my Parents?

They can sell for any price they want, but the assessment has nothing to do with the selling price.

The property tax will not be reassessed because of the "sale".

There are complex tax questions here, and I suggest strongly you consult with a real estate/tax attorney, before going through with a "sale".

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Answered on 9/16/07, 1:15 pm


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