California Revenue and Taxation Code

§ 20640.3

RTC § 20640.3 Effective Jan 1, 2018Div. 2 · Part 10.5 · Ch. 3.5

Statute text

A claimant is an individual who:

(a)Holds a right to a possessory interest pursuant to a validly recorded instrument conveying such possessory interest for a term of years no less than 45 years beyond the last day of the calendar year ending immediately prior to the fiscal year for which taxes are initially postponed.

(b)Occupies as a principal place of residence the residential dwelling affixed to such possessory interest real property on the last day of the year designated in subdivision (d) of Section 20503.

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Legislative history

Amended by Stats. 2017, Ch. 387, Sec. 28. (SB 205) Effective January 1, 2018.