Laws, Regulations & Annotations

P

625.0000 PARENT-CHILD TRANSFER

Annotation 625.0199

625.0199 Trust Certification. A certification of trust is not sufficient evidence upon which to make a determination of eligibility for the parent-child exclusion if it does not identify the beneficiaries or their interests in the property held in trust. An assessor may require a claimant for the exclusion to either submit the trust instrument or copies of portions of the instrument that identify the beneficiaries and their interests, enumerate the powers of the trustee, and other relevant terms regarding the disposition of the trust property and assets, as a condition of processing and granting the exclusion. C 5/7/2004.