State Codes and Statutes

Statutes > California > Rtc > 11921-11930

REVENUE AND TAXATION CODE
SECTION 11921-11930



11921.  Any tax imposed pursuant to this part shall not apply to any
instrument in writing given to secure a debt.



11922.  Any deed, instrument or writing to which the United States
or any agency or instrumentality thereof, any state or territory, or
political subdivision thereof, is a party shall be exempt from any
tax imposed pursuant to this part when the exempt agency is acquiring
title.


11923.  (a) Any tax imposed pursuant to this part shall not apply to
the making, delivering, or filing of conveyances to make effective
any plan of reorganization or adjustment that is any of the
following:
   (1) Confirmed under the Federal Bankruptcy Code, as amended.
   (2) Approved in an equity receivership proceeding in a court
involving a railroad corporation, as defined in Section 101 of Title
11 of the United States Code, as amended.
   (3) Approved in an equity receivership proceeding in a court
involving a corporation, as defined in Section 101 of Title 11 of the
United States Code, as amended.
   (4) Whereby a mere change in identity, form, or place of
organization is effected.
   (b) Subdivision (a) shall only apply if the making, delivery, or
filing of instruments of transfer or conveyances occurs within five
years from the date of the confirmation, approval, or change.




11924.  Any tax imposed pursuant to this part shall not apply to the
making or delivery of conveyances to make effective any order of the
Securities and Exchange Commission, as defined in subdivision (a) of
Section 1083 of the Internal Revenue Code of 1954; but only if--
   (a) The order of the Securities and Exchange Commission in
obedience to which such conveyance is made recites that such
conveyance is necessary or appropriate to effectuate the provisions
of Section 79k of Title 15 of the United States Code, relating to the
Public Utility Holding Company Act of 1935;
   (b) Such order specifies the property which is ordered to be
conveyed;
   (c) Such conveyance is made in obedience to such order.



11925.  (a) In the case of any realty held by a partnership or other
entity treated as a partnership for federal income tax purposes, no
levy shall be imposed pursuant to this part by reason of any transfer
of an interest in the partnership or other entity or otherwise, if
both of the following occur:
   (1) The partnership or other entity treated as a partnership is
considered a continuing partnership within the meaning of Section 708
of the Internal Revenue Code of 1986.
   (2) The continuing partnership or other entity treated as a
partnership continues to hold the realty concerned.
   (b) If there is a termination of any partnership or other entity
treated as a partnership for federal income tax purposes, within the
meaning of Section 708 of the Internal Revenue Code of 1986, for
purposes of this part, the partnership or other entity shall be
treated as having executed an instrument whereby there was conveyed,
for fair market value (exclusive of the value of any lien or
encumbrance remaining thereon), all realty held by the partnership or
other entity at the time of the termination.
   (c) Not more than one tax shall be imposed pursuant to this part
by a county, city and county or city by reason of a termination
described in subdivision (b), and any transfer pursuant thereto, with
respect to the realty held by a partnership or other entity treated
as a partnership at the time of the termination.
   (d) No levy shall be imposed pursuant to this part by reason of
any transfer between an individual or individuals and a legal entity
or between legal entities that results solely in a change in the
method of holding title to the realty and in which proportional
ownership interests in the realty, whether represented by stock,
membership interest, partnership interest, cotenancy interest, or
otherwise, directly or indirectly, remain the same immediately after
the transfer.


11926.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or writing to a beneficiary or
mortgagee, which is taken from the mortgagor or trustor as a result
of or in lieu of foreclosure; provided, that such tax shall apply to
the extent that the consideration exceeds the unpaid debt, including
accrued interest and cost of foreclosure. Consideration, unpaid debt
amount and identification of grantee as beneficiary or mortgagee
shall be noted on said deed, instrument or writing or stated in an
affidavit or declaration under penalty of perjury for tax purposes.



11927.  (a) Any tax imposed pursuant to this part shall not apply
with respect to any deed, instrument, or other writing which purports
to transfer, divide, or allocate community, quasi-community, or
quasi-marital property assets between spouses for the purpose of
effecting a division of community, quasi-community, or quasi-marital
property which is required by a judgment decreeing a dissolution of
the marriage or legal separation, by a judgment of nullity, or by any
other judgment or order rendered pursuant to the Family Code, or by
a written agreement between the spouses, executed in contemplation of
any such judgment or order, whether or not the written agreement is
incorporated as part of any of those judgments or orders.
   (b) In order to qualify for the exemption provided in subdivision
(a), the deed, instrument, or other writing shall include a written
recital, signed by either spouse, stating that the deed, instrument,
or other writing is entitled to the exemption.



11928.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or other writing by which realty is
conveyed by the State of California, any political subdivision
thereof, or agency or instrumentality of either thereof, pursuant to
an agreement whereby the purchaser agrees to immediately reconvey the
realty to the exempt agency.



11929.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or other writing by which the State
of California, any political subdivision thereof, or agency or
instrumentality of either thereof, conveys to a nonprofit corporation
realty the acquisition, construction, or improvement of which was
financed or refinanced by obligations issued by the nonprofit
corporation on behalf of a governmental unit, within the meaning of
Section 1.103-1 (b) of Title 26 of the Code of Federal Regulations.



11930.  Any tax imposed pursuant to this part shall not apply to any
deed, instrument, or other writing which purports to grant, assign,
transfer, convey, divide, allocate, or vest lands, tenements, or
realty, or any interest therein, if by reason of such inter vivos
gift or by reason of the death of any person, such lands, tenements,
realty, or interests therein are transferred outright to, or in trust
for the benefit of, any person or entity.


State Codes and Statutes

Statutes > California > Rtc > 11921-11930

REVENUE AND TAXATION CODE
SECTION 11921-11930



11921.  Any tax imposed pursuant to this part shall not apply to any
instrument in writing given to secure a debt.



11922.  Any deed, instrument or writing to which the United States
or any agency or instrumentality thereof, any state or territory, or
political subdivision thereof, is a party shall be exempt from any
tax imposed pursuant to this part when the exempt agency is acquiring
title.


11923.  (a) Any tax imposed pursuant to this part shall not apply to
the making, delivering, or filing of conveyances to make effective
any plan of reorganization or adjustment that is any of the
following:
   (1) Confirmed under the Federal Bankruptcy Code, as amended.
   (2) Approved in an equity receivership proceeding in a court
involving a railroad corporation, as defined in Section 101 of Title
11 of the United States Code, as amended.
   (3) Approved in an equity receivership proceeding in a court
involving a corporation, as defined in Section 101 of Title 11 of the
United States Code, as amended.
   (4) Whereby a mere change in identity, form, or place of
organization is effected.
   (b) Subdivision (a) shall only apply if the making, delivery, or
filing of instruments of transfer or conveyances occurs within five
years from the date of the confirmation, approval, or change.




11924.  Any tax imposed pursuant to this part shall not apply to the
making or delivery of conveyances to make effective any order of the
Securities and Exchange Commission, as defined in subdivision (a) of
Section 1083 of the Internal Revenue Code of 1954; but only if--
   (a) The order of the Securities and Exchange Commission in
obedience to which such conveyance is made recites that such
conveyance is necessary or appropriate to effectuate the provisions
of Section 79k of Title 15 of the United States Code, relating to the
Public Utility Holding Company Act of 1935;
   (b) Such order specifies the property which is ordered to be
conveyed;
   (c) Such conveyance is made in obedience to such order.



11925.  (a) In the case of any realty held by a partnership or other
entity treated as a partnership for federal income tax purposes, no
levy shall be imposed pursuant to this part by reason of any transfer
of an interest in the partnership or other entity or otherwise, if
both of the following occur:
   (1) The partnership or other entity treated as a partnership is
considered a continuing partnership within the meaning of Section 708
of the Internal Revenue Code of 1986.
   (2) The continuing partnership or other entity treated as a
partnership continues to hold the realty concerned.
   (b) If there is a termination of any partnership or other entity
treated as a partnership for federal income tax purposes, within the
meaning of Section 708 of the Internal Revenue Code of 1986, for
purposes of this part, the partnership or other entity shall be
treated as having executed an instrument whereby there was conveyed,
for fair market value (exclusive of the value of any lien or
encumbrance remaining thereon), all realty held by the partnership or
other entity at the time of the termination.
   (c) Not more than one tax shall be imposed pursuant to this part
by a county, city and county or city by reason of a termination
described in subdivision (b), and any transfer pursuant thereto, with
respect to the realty held by a partnership or other entity treated
as a partnership at the time of the termination.
   (d) No levy shall be imposed pursuant to this part by reason of
any transfer between an individual or individuals and a legal entity
or between legal entities that results solely in a change in the
method of holding title to the realty and in which proportional
ownership interests in the realty, whether represented by stock,
membership interest, partnership interest, cotenancy interest, or
otherwise, directly or indirectly, remain the same immediately after
the transfer.


11926.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or writing to a beneficiary or
mortgagee, which is taken from the mortgagor or trustor as a result
of or in lieu of foreclosure; provided, that such tax shall apply to
the extent that the consideration exceeds the unpaid debt, including
accrued interest and cost of foreclosure. Consideration, unpaid debt
amount and identification of grantee as beneficiary or mortgagee
shall be noted on said deed, instrument or writing or stated in an
affidavit or declaration under penalty of perjury for tax purposes.



11927.  (a) Any tax imposed pursuant to this part shall not apply
with respect to any deed, instrument, or other writing which purports
to transfer, divide, or allocate community, quasi-community, or
quasi-marital property assets between spouses for the purpose of
effecting a division of community, quasi-community, or quasi-marital
property which is required by a judgment decreeing a dissolution of
the marriage or legal separation, by a judgment of nullity, or by any
other judgment or order rendered pursuant to the Family Code, or by
a written agreement between the spouses, executed in contemplation of
any such judgment or order, whether or not the written agreement is
incorporated as part of any of those judgments or orders.
   (b) In order to qualify for the exemption provided in subdivision
(a), the deed, instrument, or other writing shall include a written
recital, signed by either spouse, stating that the deed, instrument,
or other writing is entitled to the exemption.



11928.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or other writing by which realty is
conveyed by the State of California, any political subdivision
thereof, or agency or instrumentality of either thereof, pursuant to
an agreement whereby the purchaser agrees to immediately reconvey the
realty to the exempt agency.



11929.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or other writing by which the State
of California, any political subdivision thereof, or agency or
instrumentality of either thereof, conveys to a nonprofit corporation
realty the acquisition, construction, or improvement of which was
financed or refinanced by obligations issued by the nonprofit
corporation on behalf of a governmental unit, within the meaning of
Section 1.103-1 (b) of Title 26 of the Code of Federal Regulations.



11930.  Any tax imposed pursuant to this part shall not apply to any
deed, instrument, or other writing which purports to grant, assign,
transfer, convey, divide, allocate, or vest lands, tenements, or
realty, or any interest therein, if by reason of such inter vivos
gift or by reason of the death of any person, such lands, tenements,
realty, or interests therein are transferred outright to, or in trust
for the benefit of, any person or entity.



State Codes and Statutes

State Codes and Statutes

Statutes > California > Rtc > 11921-11930

REVENUE AND TAXATION CODE
SECTION 11921-11930



11921.  Any tax imposed pursuant to this part shall not apply to any
instrument in writing given to secure a debt.



11922.  Any deed, instrument or writing to which the United States
or any agency or instrumentality thereof, any state or territory, or
political subdivision thereof, is a party shall be exempt from any
tax imposed pursuant to this part when the exempt agency is acquiring
title.


11923.  (a) Any tax imposed pursuant to this part shall not apply to
the making, delivering, or filing of conveyances to make effective
any plan of reorganization or adjustment that is any of the
following:
   (1) Confirmed under the Federal Bankruptcy Code, as amended.
   (2) Approved in an equity receivership proceeding in a court
involving a railroad corporation, as defined in Section 101 of Title
11 of the United States Code, as amended.
   (3) Approved in an equity receivership proceeding in a court
involving a corporation, as defined in Section 101 of Title 11 of the
United States Code, as amended.
   (4) Whereby a mere change in identity, form, or place of
organization is effected.
   (b) Subdivision (a) shall only apply if the making, delivery, or
filing of instruments of transfer or conveyances occurs within five
years from the date of the confirmation, approval, or change.




11924.  Any tax imposed pursuant to this part shall not apply to the
making or delivery of conveyances to make effective any order of the
Securities and Exchange Commission, as defined in subdivision (a) of
Section 1083 of the Internal Revenue Code of 1954; but only if--
   (a) The order of the Securities and Exchange Commission in
obedience to which such conveyance is made recites that such
conveyance is necessary or appropriate to effectuate the provisions
of Section 79k of Title 15 of the United States Code, relating to the
Public Utility Holding Company Act of 1935;
   (b) Such order specifies the property which is ordered to be
conveyed;
   (c) Such conveyance is made in obedience to such order.



11925.  (a) In the case of any realty held by a partnership or other
entity treated as a partnership for federal income tax purposes, no
levy shall be imposed pursuant to this part by reason of any transfer
of an interest in the partnership or other entity or otherwise, if
both of the following occur:
   (1) The partnership or other entity treated as a partnership is
considered a continuing partnership within the meaning of Section 708
of the Internal Revenue Code of 1986.
   (2) The continuing partnership or other entity treated as a
partnership continues to hold the realty concerned.
   (b) If there is a termination of any partnership or other entity
treated as a partnership for federal income tax purposes, within the
meaning of Section 708 of the Internal Revenue Code of 1986, for
purposes of this part, the partnership or other entity shall be
treated as having executed an instrument whereby there was conveyed,
for fair market value (exclusive of the value of any lien or
encumbrance remaining thereon), all realty held by the partnership or
other entity at the time of the termination.
   (c) Not more than one tax shall be imposed pursuant to this part
by a county, city and county or city by reason of a termination
described in subdivision (b), and any transfer pursuant thereto, with
respect to the realty held by a partnership or other entity treated
as a partnership at the time of the termination.
   (d) No levy shall be imposed pursuant to this part by reason of
any transfer between an individual or individuals and a legal entity
or between legal entities that results solely in a change in the
method of holding title to the realty and in which proportional
ownership interests in the realty, whether represented by stock,
membership interest, partnership interest, cotenancy interest, or
otherwise, directly or indirectly, remain the same immediately after
the transfer.


11926.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or writing to a beneficiary or
mortgagee, which is taken from the mortgagor or trustor as a result
of or in lieu of foreclosure; provided, that such tax shall apply to
the extent that the consideration exceeds the unpaid debt, including
accrued interest and cost of foreclosure. Consideration, unpaid debt
amount and identification of grantee as beneficiary or mortgagee
shall be noted on said deed, instrument or writing or stated in an
affidavit or declaration under penalty of perjury for tax purposes.



11927.  (a) Any tax imposed pursuant to this part shall not apply
with respect to any deed, instrument, or other writing which purports
to transfer, divide, or allocate community, quasi-community, or
quasi-marital property assets between spouses for the purpose of
effecting a division of community, quasi-community, or quasi-marital
property which is required by a judgment decreeing a dissolution of
the marriage or legal separation, by a judgment of nullity, or by any
other judgment or order rendered pursuant to the Family Code, or by
a written agreement between the spouses, executed in contemplation of
any such judgment or order, whether or not the written agreement is
incorporated as part of any of those judgments or orders.
   (b) In order to qualify for the exemption provided in subdivision
(a), the deed, instrument, or other writing shall include a written
recital, signed by either spouse, stating that the deed, instrument,
or other writing is entitled to the exemption.



11928.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or other writing by which realty is
conveyed by the State of California, any political subdivision
thereof, or agency or instrumentality of either thereof, pursuant to
an agreement whereby the purchaser agrees to immediately reconvey the
realty to the exempt agency.



11929.  Any tax imposed pursuant to this part shall not apply with
respect to any deed, instrument, or other writing by which the State
of California, any political subdivision thereof, or agency or
instrumentality of either thereof, conveys to a nonprofit corporation
realty the acquisition, construction, or improvement of which was
financed or refinanced by obligations issued by the nonprofit
corporation on behalf of a governmental unit, within the meaning of
Section 1.103-1 (b) of Title 26 of the Code of Federal Regulations.



11930.  Any tax imposed pursuant to this part shall not apply to any
deed, instrument, or other writing which purports to grant, assign,
transfer, convey, divide, allocate, or vest lands, tenements, or
realty, or any interest therein, if by reason of such inter vivos
gift or by reason of the death of any person, such lands, tenements,
realty, or interests therein are transferred outright to, or in trust
for the benefit of, any person or entity.