§ 15104.4. Transfer of Joint Tenancy Property to Third Person.
18 CA ADC § 15104.4Barclays Official California Code of Regulations
18 CCR § 15104.4
§ 15104.4. Transfer of Joint Tenancy Property to Third Person.
It is assumed in this regulation that the transfers were not made for an adequate and full consideration in money or money's worth.
If a joint bank or similar account is created with community property each spouse contributes one-half of such property.
If a joint United States savings bond is purchased with community property each spouse contributes one-half of such property.
(c) Joint Tenancy Other Than Bank Account, U. S. Savings Bond, or Real Property Owned by Husband and Wife. A transfer of joint tenancy property, other than a joint bank or similar account, a joint United States savings bond, or real property owned by a husband and wife in a joint tenancy created on or after September 11, 1957, to a third person constitutes a gift of one-half of such property by each joint tenant.
Note: For a transfer to a third person of real property owned by a husband and wife in a joint tenancy created on or after September 11, 1957, see Section 15104.50.
Note: Reference: Section 15104, Revenue and Taxation Code.
This database is current through 6/14/24 Register 2024, No. 24.
Cal. Admin. Code tit. 18, § 15104.4, 18 CA ADC § 15104.4
End of Document |