FAMILY TRANSACTIONS and INTRA-FAMILY GIFTING AND SALES

We can coordinate all aspects of your family transaction via video conference and teleconference.

See fee schedule below.

WARNING — CALIFORNIA PROPOSITION 19 UPENDS THIS ENTIRE PROCESS AND EFFECTIVELY WIPES OUT MANY BENEFITS OF PROPOSITION 58 AND 193 AS OF FEBRUARY 16, 2021.

Review our article on Proposition 19 and its dire reduction of the family transfer tax benefit here.

Questions? – Paid one-hour consultations are conducted daily and address virtually all questions, options and tax implications and strategies. (Book a consultation here.)

Ready to proceed with a private sale or transfer today? – See fees below.

We are experts in California intra-family transactions, family gifting and family sales of real estate, utilizing all aspects of Proposition 13, Proposition 58, Proposition 60, Proposition 90 and Proposition 193 and new Proposition 19 to ensure the lowest tax consequence possible. Review our in-depth article on family transactions here. Equally important, review our in-depth article on Proposition 19 here.

Real Estate – often a family’s largest asset – can be freely transferred, sold, gifted or a hybrid of the two. While there can be significant tax and other financial considerations, the process itself can be accomplished easier than you may think. As part of an estate plan, or in lieu of, many families desire to transfer, via gift, sale or both, property to their children. We can help.

Our office excels with family transfers, family gifting, family sales and other private transfers such as a sale to your tenants (or buying the home from your landlord). We can facilitate all aspects of a family sale, gift or hybrid of the two, a private party sale, such as a sale to tenants, and for sale by owner transactions, including all applicable paperwork and review of key tax considerations.

Many clients approach our office because they already have someone to purchase their home – family, friends, neighbors, tenants, etc. – they do not need or want a traditional commission-based expenses, but still require professional guidance and assistance. We are a perfect fit for those that require professional legal and tax assistance, but not expensive fees or commissions.

How does it work? Easy. We prepare the purchase agreement, seller disclosures, and all required documentation and can even record title. If applicable, we coordinate inspections, appraisals, due diligence, termite and/or other repairs. If a loan is involved, we work with the lender and a third-party title company (that the lender will require) and coordinate all aspects of the same to ensure a seamless transaction.

Costs / Fees

Given high demand, we now have published flat rates for all family sales or transfers, though situations vary, so please call to confirm:

  • A pure gift, no money exchanged, and the home value is up to $2,500,000 – a $1,000 flat rate, payable upfront.
  • If there is a new third-party loan involved, and the home value (value, not per se the purchase price) is up to $2,500,000 – a $2,500 flat rate. $2,000 payable upfront, the remainder at closing.
  • Home value above $2,500,000, please call. (we are routinely involved in seven and eight-figure real estate transactions)
  • Other situation, please call.
  • One hour private Zoom sessions are available to discuss legal or tax questions about a family sale, gift or transfer. Consultation fees ($295) are applied towards a sale or purchase if you proceed with our office – Schedule an appointment by clicking here.
  • Military and Law Enforcement Discounts available – click here for Military and Law Enforcement Discount information.

If you just have questions, our preference is an initial consultation with the key parties to discuss the transaction, review potential tax considerations and an overall plan for the transaction.  

To discuss your family real estate transaction, contact our office. If you are ready to proceed with a consultation, you can book directly by clicking here.

If you are ready to proceed with a transfer, just call or email to get started. Contact info below.

Contact by phone or email anytime:

info@lucas-real-estate.com

949-478-1623

Schedule an appointment by clicking here

Family Transactions discussed in depth here