Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2015
Property Tax Annotations
220.0000 CHANGE IN OWNERSHIP
220.0447 Options. Civil Code section 885.010(b) states that a power of termination is an interest in real property; however, until exercised, the power of termination is a future, contingent interest in the property. Therefore, the creation or transfer of such an interest is not a change in ownership. However, if and when the Grantor does exercise the power of termination and the beneficial interest in the property is transferred to the Grantor, a change in ownership will result. C 1/25/2011.