Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2014
Property Tax Annotations
220.0000 CHANGE IN OWNERSHIP
220.0792 Trusts. The sale of a residence held in an inter vivos, irrevocable "qualified personal residence trust" by the trustee back to the trustor prior to the termination of the trust is excluded from change in ownership. Since the trustee is transferring mere legal title, there is no change in ownership under Property Tax Rule 462.240(a). Further, since the trustor currently has beneficial ownership, the merger of legal and beneficial title in the trustor is excluded from change in ownership under Revenue and Taxation Code section 62(d). C 10/14/1999.