Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
220.0000 CHANGE IN OWNERSHIP
220.0668 Step Transaction. A transfer of property from A, B, and C, tenants-in-common, to A, B, and C as joint tenants, followed immediately by a transfer from A and B to C results in a change in ownership of A's and B's tenancy-in-common interests to C. Although the transfers appear to fall within the exclusionary provisions of Revenue and Taxation Code sections 62(f) and 65, the initial transfer should be ignored because it was contemplated from the outset that C would receive A's and B's interests and because the transfer was made to circumvent the intent of the change in ownership statutes. C 12/24/1981.