Bill
AB 82
Overview: AB 82 is a bill that aims to exempt certain conveyances between grandparents and grandchildren from the real estate transfer fee.Purpose and Intent: The main goal of this
Overview: AB 82 is a bill that aims to exempt certain conveyances between grandparents and grandchildren from the real estate transfer fee.
Purpose and Intent: The main goal of this bill is to provide a tax exemption for real estate transfers between grandparents and their grandchildren. This is intended to make it easier for grandparents to pass on property to their grandchildren without incurring additional fees.
Key Provisions:
- Exempts the transfer of real estate from grandparents to their grandchildren from the real estate transfer fee
- Applies to both residential and commercial properties
- Requires the grandparent and grandchild to be related by blood, marriage, or legal adoption
Affected Parties and Impacts: This bill would primarily benefit grandparents who wish to transfer property to their grandchildren, as they would no longer have to pay the real estate transfer fee on these transactions. This could make it more financially feasible for grandparents to pass on property to the next generation.
Procedural and Timeline Considerations: AB 82 has been laid on the table, meaning it is currently not actively being considered by the legislature. The next steps would be for the bill to be brought back up for further discussion and potential voting.
Compiled from official sources — confirm details with the bill’s official record.
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