Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2013
 

Property Tax Annotations


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C

220.0000 CHANGE IN OWNERSHIP

Annotation 220.0392

220.0392 Limited Partnership. When a limited partnership dissolves upon the death of a partner (whether general or limited), but the remaining partner or partners carry on the partnership's business in the form of a new partnership, there is a change in ownership of the partnership's real property. However, no change in ownership results when a partner dies and the remaining partners agree in writing to continue the limited partnership pursuant to the provisions of Corporations Code section 15681(c), thus avoiding the dissolution of a limited partnership. C 5/28/2002.