Under California Revenue and Taxation Code, which of the following transfers is EXCLUDED from the definition of 'change in ownership' and does NOT trigger a property tax reassessment?
Correct Answer
B) A transfer between spouses that converts community property to joint tenancy
Under California Revenue and Taxation Code §62(a)(2), any transfer between spouses — including a change in the form of co-ownership, such as converting community property to joint tenancy — is explicitly excluded from the definition of 'change in ownership' and does not trigger reassessment. The form of title changes, but no reassessment occurs.
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An appraiser using the sales comparison approach in California considers multiple factors when selecting and adjusting comparable sales. All of the following are valid reasons to adjust a comparable sale price in the California market EXCEPT:
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A California real estate licensee is preparing a CMA and notices that one comparable property sold in a foreclosure auction conducted by a trustee under a deed of trust. How should this sale be handled in the CMA?