Make sure you know what the process is for the lease transfer.

You need to find a real estate attorney to help you navigate transfer the deed to your name and maintaining the old tax base. 

Then you shouldn't have any issues with the transfer of the property upon their death.

My husband's mom wants to transfer her house in California to him.

If I had my properties in a Wyoming LLC for anonymity and the property can't be traced back to me as the parent, aren't my kids inheriting this property through a business, the LLC (losing the parent-child transfer)? 

We decided we'd like to transfer ownership to our children so we can help them avoid the new Proposition 19 law that requires property tax reassessment upon inheritance.

What I usually do is record it in a land trust and then have the beneficiary be me and then transfer it on paper to your LLC.Good Investing...

Hey everyone so due to the passage of prop 19 in CA, my dad has transferred our SFH which is our primary residence to myself and my brother in order to preserve our prop 13 tax base going forward.

Are you looking to build cashflow, to have a place to move to later, etc.With that said, here are some considerations:1) Transferring title (you buying the house) will trigger a reassessment (higher property taxes), which will significantly affect any potential cashflow.

But, there was that pesky lil prop passed last year, Prop 19, which severely limited the parent to child transfer property tax reassessment exclusion.