Laws, Regulations & Annotations

P

625.0000 PARENT-CHILD TRANSFER

Annotation 625.0194

625.0194 Step Transaction. If evidence establishes that beneficial ownership of property transfers to children under a written unrecorded contract and only legal title transfers by deed to the partnership, then the deed presumption that the parent is transferring property to the partnership is rebutted. In such case, the transfer may be excluded under Revenue and Taxation Code section 63.1, and the step transaction doctrine would not apply. C 8/22/2000.