Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > C > 220.0000 CHANGE IN OWNERSHIP > 220.0025

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0025

220.0025 Bankruptcy. Although the filing of a petition for bankruptcy under United States Bankruptcy Code Chapters 7, 11 or 13 creates a separate and distinct estate, the estate of the bankrupt, beneficial use of a bankrupt's assets is not transferred and thus, no change in ownership occurs upon the creation of the estate. LTA 7/26/1988 (No. 88/55).