Home Table of Contents

§ 15551.1. Encumbrances and Liens.

18 CA ADC § 15551.1Barclays Official California Code of Regulations

Barclays California Code of Regulations
Title 18. Public Revenues
Division 2.5. State Controller (Refs & Annos)
Chapter 2. Gift Tax (Refs & Annos)
Article 5. Valuation
18 CCR § 15551.1
§ 15551.1. Encumbrances and Liens.
Currentness
If any property is transferred subject to a bona fide encumbrance or lien, such as a trust deed, mortgage, or pledge, the market value of the property is its gross market value at the date of the gift, less the amount of the encumbrance or lien at that time.
Note: Reference: Section 15551, Revenue and Taxation Code.
This database is current through 6/21/24 Register 2024, No. 25.
Cal. Admin. Code tit. 18, § 15551.1, 18 CA ADC § 15551.1
End of Document