Current through Register Vol. 54, No. 24, June 15, 2024
Section 91.135 - Judicial sales and other transactionsThe 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.The provisions of this § 91.135 adopted September 9, 1988, effective 9/10/1988, 18 Pa.B. 4096; amended December 14, 2007, effective 12/15/2007, 37 Pa.B. 6516.The provisions of this § 91.135 issued under section 1107-C of the Tax Reform Code of 1971 (72 P. S. § 8107-C).
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).