Transfer of Property from Partial to Full Ownership in California

[Justin L.]

I own 27% of a rental single family home which was acquired in 2016 and now my grandparents are looking to gift the rest of the 73% which they own to me.  They plan to gift it to me with the intention that I can exchange it for my first home in the future.  It was acquired via a 1031 exchange (their portion was an exchange but my 27% was not).

What strategies/laws should I be looking into for taxes and cost basis information?  We have a shared CPA but are considering going to an attorney for this transaction/gift.

I'm currently looking into my own tax planning to figure out whether this would be a taxable event and whether it would make sense to do it before the end of the year as well as whether to use a quick claim deed versus going to an attorney to see if they have a better strategy for increasing the cost basis on transfer. Any additional advice on what to look into would be greatly appreciated! Thanks!