Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


A    B    C    D    E    F    G    H    I    L    M    N    O    P    R    S    T    U    V    W   

C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0375.005

220.0375.005 Limited Liability Company. A transfer of real property from a limited partnership, comprised of one general partner and one limited partner where each holds a 50 percent partnership interest, to a limited liability company (LLC) where the general partner and the limited partner, the only members of the transferee LLC, each hold a 50 percent LLC interest, would be excluded from a change in ownership under Revenue and Taxation Code section 62(a)(2), assuming this is not a statutory conversion or merger pursuant to Corporations Code section 15611. If it is, there is no transfer, and therefore, no change in ownership. C 9/9/1999.