Category: California

Filing Requirement – Change in Control
Revenue and Taxation Code Section 480.1

The law requires any person or legal entity acquiring ownership control in any corporation, partnership, limited liability company, or other legal entity owning real property in California subject to local property taxation to complete and file a change in ownership statement with the State Board of Equalization at its office in Sacramento. The change in ownership statement must be filed within 90 days from the date of the change in control of a corporation, partnership, limited liability company, or other legal entity. The law further requires that a change in ownership statement be completed and filed whenever a written request is made therefor by the State Board of Equalization, regardless of whether a change in control of the legal entity has occurred.

Continue reading “California Requirements for Change Of Ownership Interest in Real Property BOE-100-B”

Documentary Transfer Tax (AB 1888)

Effective January 1, 2015, pursuant to Assembly Bill 1888, all California County Registrar/Recorder/County Clerk’s Offices will require that “EVERY document subject to tax that is submitted for recordation shall show on the face of the document the amount of tax due and the incorporated or unincorporated location of the lands, tenements, or other realty described in the document” before acceptance for recording.

Continue reading “California Now Requires Real Estate Deeds that are Subject to Transfer Tax Show the Tax Amount on the Face of the Deed”