Existing law establishes procedures through which a successor of the decedent may dispose of decedent’s real, personal property if gross value does not exceed $166,250.
Current process utilizing an affidavit or declaration under penalty of perjury or filing by a petition in the superior court, excludes certain property from the value of the estate.
This bill would exclude real property that was included in a petition to the superior court from the affidavit and apply only to real property that was the primary residence.
Petition procedures apply to primary residencies with gross value less than $750,000.
Legislative History
On Jan. 31, 2024, bill introduced to Assembly; on Apr. 18, 2024, bill passed Assembly.
On Apr. 18, 2024, bill introduced into Senate; on Aug. 26, 2024, bill passed in Senate.
On Sep. 5, 2024, bill enrolled by both chambers and was presented to the governor.
Effectiveness
If enacted, bill becomes effective as of Jan. 1, 2025.
Sep. 21, 2024 CAL LEG Governor Approval
On Sep. 21, 2024, CAL LEG reported governor approved AB-2016, assigned Ch. 331.
Regulators
CAL LEG
Entity Types
CNSM
Reference
Ch. 331, 9/21/2024; Bill, AB2016, 9/6/2024; Citation: CAL LEG 8-1-3-13100; CAL LEG 8-1-3-13101; CAL LEG 8-1-4-13150; CAL LEG 8-1-3-13151; CAL LEG 8-1-4-13152; CAL LEG 8-1-4-13154;
