My parents recently sold their home in CA. They purchased a new residence in AZ. They did not grandfather their property tax to CA for obvious reasons.
Now is there a way for me to purchase a home in CA and somehow apply the grandfathered property tax rate to it? Would they have to purchase the property in their name, or can I purchase it in my name and title it in theirs to get the tax rate. Or do we have to have them purchase it and than later on gift it or sell it to me? I assume there would be tax implications with this as well.
I'm looking to step up to a bigger property and obviously this could save me thousands per year.