Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2017
Property Tax Annotations
A B C D E F G H I L M N O P R S T U V W
C
220.0000 CHANGE IN OWNERSHIP
Annotation 220.0506
220.0506 Partnership. When one of two equal partners sells his/her partnership interest to the partnership or buys the other partner's 50 percent interest in the partnership, the remaining partner obtains a majority ownership interest. Therefore, pursuant to Revenue and Taxation Code section 64(c)(1), a change in control of the partnership occurs, resulting in a change in ownership of the real property owned by the partnership and a reassessment of that property for property tax purposes. C 1/11/1989; C 4/30/1999.