Deemed owner status applies where possession or qualifying rights in a building make its value part of net wealth. A person permitted to take or retain possession of a building in part performance of a transfer-related contract, or who acquires rights in a building by virtue of a qualifying tax transaction (excluding short-term or month-to-month leases), is deemed to be the owner and the value of that building or part must be included in computing the person's net wealth.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Deemed owner status applies where possession or qualifying rights in a building make its value part of net wealth.
A person permitted to take or retain possession of a building in part performance of a transfer-related contract, or who acquires rights in a building by virtue of a qualifying tax transaction (excluding short-term or month-to-month leases), is deemed to be the owner and the value of that building or part must be included in computing the person's net wealth.
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