Chapter 4. Equalization by State Board›Article 4. Change in Ownership and New Construction
§ 462.001. Change in Ownership—General.
California Code of Regulations, Title 18 — Division 1. State Board of Equalization—Property Tax · 2026 edition · updated 2026-10-05 · California
A “change in ownership” in real property occurs when there is a transfer of a present interest in the property, including the transfer of the right to beneficial use thereof, the value of which is substantially equal to the value of the fee interest. Every transfer of property qualified as a “change in ownership” shall be so regarded whether the transfer is voluntary, involuntary, by operation of law, by grant, gift, devise, inheritance, trust, contract of sale, addition or deletion of an owner, property settlement, or any other means. A change in the name of an owner of property not involving a change in the right to beneficial use is excluded from the term “transfer” as used in this section.
Credits
Note: Authority cited: Section 15606, Government Code. Reference: Sections 60-67, Revenue and Taxation Code.
History
Change without regulatory effect renumbering former subsections 462(a)(1)-(2) to section 462.001 filed 5-11-94 pursuant to title 1, section 100, California Code of Regulations (Register 94, No. 19).
Amendment filed 5-12-97; operative 6-11-97 (Register 97, No. 20).
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