Is a transfer of property from a parent to a child a transfer of ownership?

Beginning with transfers occurring on and after December 31, 2014 only, no but only for property classified residential real and if the use of the real property does not change following the transfer of ownership.

Show All Answers

1. Is a transfer of property from a parent to a child a transfer of ownership?
2. Does this include relatives other than those related by blood?
3. When does this provision go into effect?