Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0382

220.0382 Limited Partnership. A transfer of real property by an individual to a limited partnership, a partnership formed by two or more persons, is not excluded by Revenue and Taxation Code section 62(a), which requires that proportional interests of the transferor(s) and transferee(s) remain the same after a transfer. Any shift in the partners' interests in the partnership capital and profits during or immediately after the transfer destroys the required proportionality. C 9/1/1981; C 1/6/2000.