Laws, Regulations & Annotations

PTLG Table of Contents > Property Tax Annotations > C > 220.0000 CHANGE IN OWNERSHIP > 220.0366

Property Taxes Law Guide – Revision 2017

Property Tax Annotations

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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0366

220.0366 Life Estate. A "lease" manifesting an intention by the lessor/transferor to pass the right to possess, use, or enjoy property for the period of the transferee's life or the life of another creates a life estate which results in a change in ownership at the time of transfer. C 4/12/1984.