Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > C > 220.0000 CHANGE IN OWNERSHIP > 220.0493

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0493

220.0493 Partnership. Partnerships are considered separate legal entities so that transfers by individuals to partnerships in which they hold partnership interests constitute changes in ownership for reappraisal purposes unless Revenue and Taxation Code section 62(a)(2) applies and the transfers result only in changes in the manner of holding title. To fit within this exception, the ownership interests in each and every piece of real property after the transfers must be proportional to the individuals' ownership interests before the transfers. C 12/7/1988.