Prop 19 and 1031 Exchanges

We take pride in being a boutique real estate brokerage serving San Diego and Coronado, dedicated to assisting investment and property owners. Our expertise lies in Prop 19 homeowner sales and 1031 exchanges. Our commitment goes beyond merely selling homes and investment properties.

Helping our clients in two areas:

INHERITING PROPERTY

Proposition 19, or the Home Protection for Seniors, Severely Disabled, Families and Victims of Wildfire or Natural Disasters Act, is a Constitutional Amendment that imposes new limits on property tax benefits for inherited family property. Under Proposition 19, a child or children may keep the lower property tax base of the parent(s) ONLY if the property is the principal residence of the parent(s) and the child or children make it their principal residence within one year.

TRANSFER OF PROPERTY TAX BASE

The other component of Proposition 19 allows homeowners who are over 55 years of age, disabled, or victims of a wildfire or natural disaster, to transfer their lower assessed property value of their primary home to a newly purchased or newly constructed replacement principal residence up to three times (or once per disaster). The tax base may be transferred to a property located anywhere in the state.

1031 Exchange

Contact us to determine if a 1031 exchange will work for you.

A 1031 exchange is a valuable tool for real estate investors. It allows them to swap their investment property for another property of equal or higher value.

The best part?

By doing this, investors can defer paying capital gains tax on the profits they earn from the sale. It's no wonder this method is highly favored by investors who want to upgrade their properties without worrying about paying taxes on their proceeds. This type of exchange, also known as a "like-kind" or Starker exchange, specifically applies to real property, typically buildings and land.

Success Stories

""Tom and his team helped me understand my situation in a way others could not. Tom helped me make the best decision with the new Prop 19 guidelines. Thank you, Tom!""

Evan

"I inherited my family's investment property, and that's when my problems began. Tom and his team helped me manage and exchange the property and restore my peace of mind."

Marcia

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