Intra-Family Property Transfer in California

[Garrett Richardson]

My mother-in-law owns her home in Northern California. The location is pretty incredible and the area has appreciated 80% in the last 10 years. 

She has never attempted to rent out a property and wants to sell but would open to us taking over all the responsibilities of the rental if we could take full ownership of the home. She is close to retirement, wants to move to out of state with us, and have the peace/zero risk of not having the home in her name anymore. 

We just can’t buy the home from her outright at the moment of course since it’s worth $700K. However, if we did own it and rented it, we could potentially see $1700 in passive income each month and a $250K appreciation over the next 5 years. 

It’d be amazing to keep the property in the family if possible and remove the burden of the home from her if there was a creative way to transfer it into our names without paying for the higher property taxes and pay her what she deserves for the home.

Do you know of any creative solutions or have you heard of a situation like this?