Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0279

220.0279 Interspousal Transfers. "Distribution of a legal entity's property to a spouse" in Revenue and Taxation Code section 63(e) means that any transfer between spouses made in connection with a property settlement agreement or a judicial decree to finalize their property rights is excluded from change in ownership. This includes a transfer undertaken through a partnership redemption allowing one of the spouses to withdraw from the partnership, providing no individual or entity remaining in the partnership gains control. However, this exclusion does not apply to transfers in which the transferee is a spouse's corporation rather than the spouse. C 6/26/1998.