61 Pa. Code § 91.135 — Judicial sales and other transactions

The value of real estate is its computed value where the real estate is transferred through any of the following: (1) By execution upon a judgment or upon foreclosure of a mortgage or under a judicial sale or tax sale or a transfer to a transferee or assignee of a bid or other rights of a purchaser under a judicial or tax sale. (2) In exchange for stock in a corporation, an interest in a partnership, limited partnership or association, or property—other than cash or credit—in a bona fide sale or otherwise. (3) By gift or otherwise without consideration or for a nominal consideration. (4) Under a transaction other than a bona fide sale. Authority The provisions of this § 91.135 issued under section 1107-C of the Tax Reform Code of 1971 (72 P. S. § 8107-C). Source The provisions of this § 91.135 adopted September 9, 1988, effective September 10, 1988, 18 Pa.B. 4096; amended December 14, 2007, effective December 15, 2007, 37 Pa.B. 6516. Immediately preceding text appears at serial page (233362). Cross References This section cited in 61 Pa. Code § 91.160 (relating to exchange of interest in real estate); 61 Pa. Code § 91.165 (relating to reservations on conveyances of life estates); and 61 Pa. Code § 91.166 (relating to life maintenance). No part of the information on this site may be reproduced for profit or sold for profit. This material has been drawn directly from the official Pennsylvania Code full text database. Due to the limitations of HTML or differences in display capabilities of different browsers, this version may differ slightly from the official printed version.