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§ 462.120. Change in Ownership--Foreclosure.

18 CA ADC § 462.120Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 1. State Board of Equalization--Property Tax (California Department of Tax and Fee Administration -- Timber Yield Tax, See Chapter 11)
Chapter 4. Equalization by State Board
Article 4. Change in Ownership and New Construction
18 CCR § 462.120
§ 462.120. Change in Ownership--Foreclosure.
Currentness
(a) Mortgage or deed of trust foreclosed by judicial action is a sufficient change in ownership only:
(1) After the period of redemption has passed and property has not been redeemed, or
(2) Upon redemption when title vests in the original debtor's successor in interest.
(b) Deed of trust foreclosed by trustee's sale shall cause a reappraisal as of the date the right of possession vests in the purchaser.
(c) A transfer by a trustor in lieu of a trustee's foreclosure sale constitutes a change in ownership.

Credits

Note: Authority cited: Section 15606, Government Code. Reference: Sections 60 and 62, Revenue and Taxation Code.
History
1. Change without regulatory effect renumbering and amending former subsections 462(g)(1)-(3) to section 462.120 filed 5-11-94 pursuant to title 1, section 100, California Code of Regulations (Register 94, No. 19).
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 462.120, 18 CA ADC § 462.120
End of Document