California Code of Regulations
Title 2 - Administration
Division 2 - Financial Operations
Chapter 2 - State Controller
Subchapter 6.5 - Rules and Regulations Relating to California Estate Tax
Article 2 - Definitions
Section 1138.20 - Property in California
Current through Register 2024 Notice Reg. No. 38, September 20, 2024
Property located in California includes, but is not limited to:
(1) All real and tangible personal property situated in this state;
(2) All intangible personal property, wherever situated, of a resident decedent;
(3) In general, intangibles of a deceased, non-resident of the United States, if evidence of ownership is in California or if the issuer (i.e., of stock certificates, promissory notes, or similar choses in action) has its principal place of business in California.
(4) Land Trust agreements which expressly provide that the interest of the beneficiary of the trust shall be deemed to be personal property with no right, title, or interest in or to any portion or specific part of the real estate, but only an interest in the earnings or proceeds, shall be deemed to be intangible personal property of the beneficiary.
(5) Real property having a situs in this state is taxable although such property is held in a personal trust. Real property having an actual situs outside this state shall not be taxable with respect to a resident decedent when such property is held in a personal trust.
1. New article 2 (sections 1138.20-1138.29) and section filed 4-29-96; operative 5-29-96 (Register 96, No. 18)
Note: Authority cited: Section 14103, Revenue and Taxation Code. Reference: Section 13402, Revenue and Taxation Code.
