§ 13956. Contingent Encumbrances and Contingencies.
18 CA ADC § 13956Barclays Official California Code of Regulations
18 CCR § 13956
§ 13956. Contingent Encumbrances and Contingencies.
(a) In the valuation of any property in which a transferee is given a present right of enjoyment or possession, no allowance will be made on account of any contingent incumbrance on the property, nor on account of any contingency upon the happening of which the transferee's interest might, in whole or in part, be abridged, defeated, or diminished. If, however, the incumbrance or contingency should become effective after the transferee has become possessed, or has entered upon the enjoyment, of the property, and an inheritance tax has been paid, a refund of tax may be secured by the person who paid the tax.
This database is current through 5/10/24 Register 2024, No. 19.
Cal. Admin. Code tit. 18, § 13956, 18 CA ADC § 13956
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