Cal. Code Regs. tit. 18 § 15104.5
Current through Register 2025 Notice Reg. No. 1, January 3, 2025
If A owes B a sum of money, and B without an adequate and full consideration in money or money's worth releases A from the obligation to repay it, the release constitutes a gift to A.
NOTE: Reference: Section 15104, Revenue and Taxation Code.
Cal. Code Regs. Tit. 18, § 15104.5