Many Newport Beach and Costa Mesa homeowners are sitting on historically low mortgage rates—and don’t realize a federal law may allow them to transfer property, and their low mortgage, to their children without triggering a refinance. The Garn–St. Germain Act of 1982 can protect certain family transfers, but only when done correctly. In this article, we break down what the law allows, where it doesn’t apply, and how local families are using it as part of smart real estate, tax, and estate planning.
