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The California Court of Appeals has recently held that, as a general rule, the Documentary Transfer Tax applies whenever there is a "change in ownership" of real property.
The California Court of Appeals has recently held that, as a
general rule, the Documentary Transfer Tax ("DTT")
applies whenever there is a "change in ownership" of real
property under the California Revenue & Taxation Code. In the
case, 926 North Ardmore Avenue, LLC v. County of Los Angeles, the
court held that the phrase "realty sold" under the DTT
Act includes a "change in ownership" (subject to the
limited exceptions expressly included in the DTT Act). San
Francisco and Santa Clara Counties have already enacted amendments
to their DTT ordinances to provide for this result, and there are
several other counties (most notably Los Angeles and San Diego)
that have taken this position without any change to their
ordinances.
The content of this article is intended to provide a general
guide to the subject matter. Specialist advice should be sought
about your specific circumstances.
