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Chapter 2. Gift Tax›Article 1. Definitions

§ 15104.5. Release of Debt.

California Code of Regulations, Title 18 — Division 2.5. State Controller · 2026 edition · updated 2026-10-05 · California

Source: https://govt.westlaw.com/calregs/Document/IE935B2C34C8311EC89E5000D3A7C4BC3?viewType=FullText&originationContext=documenttoc&transitionType=CategoryPageItem&contextData=(sc.Default)

If A owes B a sum of money, and B without an adequate and full consideration in money or money's worth releases A from the obligation to repay it, the release constitutes a gift to A.

Note: Reference: Section 15104, Revenue and Taxation Code.

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▸Contents — California Code of Regulations, Title 18 — Division 2.5. State Controller
California Code of Regulations, Title 18 — Division 2.5. State Controller

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