Orange County Real Estate Blog

Straight answers from Dar Mardan, Realtor® + CPA, on selling, buying, taxes, Prop 19 and downsizing in Newport Beach, Irvine and across Orange County.

Step-Up in Basis on an Inherited California Home: Why You May Owe $0 in Tax

Watch the full breakdown in the video above. Do you pay capital gains tax when you sell an inherited house in California?Usually little or none. Under the step-up in basis, your tax basis resets to the home's value on the date of death, so only growth after that date is taxed. If your parents bought

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Inheriting a House With Siblings in Orange County: Keep, Buy Out or Sell

What happens when siblings inherit a house together in Orange County and cannot agree on what to do with it? There are 4 realistic outcomes: everyone agrees to sell and split the proceeds, 1 sibling buys out the others, the siblings keep it together under a written co-ownership agreement, or someone

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Can My Parents Transfer Their House to Me Without a Property Tax Increase?

Can parents transfer a house to a child in California without a property tax increase?Yes, up to a limit. Under Proposition 19, a child who moves in keeps the parent's taxable value as long as the home is worth no more than that value plus $1,044,586. Anything above that line gets added to the asses

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