Laws, Regulations & Annotations

Property Taxes Law Guide – Revision 2014
 

Property Tax Annotations


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E

390.0000 ESCAPE ASSESSMENTS

Annotation 390.0033

390.0033 Foreclosed Property. A trust deed beneficiary who makes a credit bid on the secured real property at a trustee's sale and thereby obtains title to such real property is considered a "purchaser for value" of the real property within the meaning of Revenue and Taxation Code section 531.2. The term "bona fide", however, generally is interpreted to mean "in good faith ... without knowledge or notice of the prior interest." Thus, questions of fact may arise with regard to whether or not a given foreclosing trust deed beneficiary is "bona fide" within the meaning of section 531.2 as to a forthcoming escape assessment. C 8/9/1996; C 1/13/1997.