Prop 19 requires one of the sons to make the home their primary residence within a year and file exemption so it is not reassessed from base value + 1M.Question is how long does one of the sons need to make this home their primary residence?

If you are confident that this developer can complete the project on time and budget, while also delivering a product (condos) that consumers in this market want, then your big two risks are handled.Now specifically on this deal: Based on the little info you mentioned, these are about $1.5mm condos.  

As long as they get paid (which they will) I think they are open to all ideas in and out of the box.The property taxes are set based on a 1950’s rate and if they reset, I’ll have to pay thousands more for every year that I own the home.

Based on a quick search, I did not see any governmental agencies addressing this particular question.LA county assessor says the child must make the received property his/her primary residence within 1 year, and must file a valid Home Owners property tax exemption. 

If you want to inherit former tax base from parent to child help us #FiXProp19 by #RepealTheDeathTax.

Like a kitchen remodel where the Contr has to go and purchase some cabinets to install.

Make sure you use net cash flow, so you are accounting for maintenance, repairs, cap ex, vacancy, and property management; based on the numbers you provided your net cash flow is probably $2k per year.

Based upon her actions she will not be granted any additional access to the group.Thus, under the Agreement, the Coach has fully performed each and every one of the services provided.

I am construction pm based in California, looking to move to South carolina(family out there is getting older).

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.