Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0305

220.0305 Joint Tenancy. A husband, a wife, and a third person hold title to real property as joint tenants. The husband and wife are "original transferors," and the third person is "other than an original transferor." The husband and wife then record a document stating that their joint tenancy interests are held as community property. The joint tenancy is, thereby, terminated; and the third person holds his interest as a tenant in common. The third person's interest is subject to reappraisal as a change in ownership, unless an exclusion, such as parent-child exclusion, applies. C 1/19/1994.