Laws, Regulations & Annotations
Property Taxes Law Guide – Revision 2013
Property Tax Annotations
625.0000 PARENT-CHILD TRANSFER
625.0050 Corporation. If a person owns all of the stock in a corporation and leaves it to his children in equal shares, they become owners on the death of the parent. A liquidation of the corporation and distribution of corporate assets would not qualify as an excluded transfer between the decedent and the children. It would be a transfer from the corporation to its shareholders and constitute a change in ownership unless title was taken by the children in such a way as to result only in a change in the manner of holding title and excluded under Revenue and Taxation Code section 62(a)(2). C 6/10/1988.