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   

P

660.0000 POSSESSORY INTEREST

Annotation 660.0190

660.0190 Option to Lease. Execution of an option to lease property from the University of California does not create a taxable possessory interest. Such an instrument is merely an irrevocable offer to lease the property which remains open for a specified period of time, and normally, no rights to possession or exclusive use come into existence until the option is exercised. C 2/6/1985.