Ord76 1679 - Laserfiche WebLink

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such lien, deed of trust or encumbrance after said transfer, and also including the amount of any indebtedness which is secured by a lien, deed of trust or encumbrance given or placed upon the property in connection with the transfer to secure the payment of the purchase price or any part thereof which remains unpaid at the time of the transfer. 'Value of the consideration' also includes the amount of any special assess- ment levied or imposed upon the property by a public body, district or agency, where said special assessment is a lien or encumbrance on the property and the purchaser or transferee agrees to pay such special assessment or takes the property subject to the lien of such special assessment. The value of any lien or encumbrance of a type other than those which are hereinabove specifically included, existing immediately prior to the transfer and remaining after said transfer, shall not be included in determining the value of the consideration. If the value of the consideration cannot be definitely deter- mined, or is left open to be fixed by future contingencies, 'value of the consideration' shall be deemed to mean the fair market value of the property at the time of transfer after deducting the amount of any lien or encumbrance, if any, of a type which would be excluded in determining the value of the consideration pursuant to above provisions of this section. "Section 32.42. Any persons who make a transfer which is subject to the tax imposed under Section 32.41 of this article, and any persons to whom such a transfer is made, shall be jointly and severally liable for payment of the tax imposed under said Section 32.41. "Section 32.43. As used in this article, the terms 'real property' and 'realty' shall be deemed to mean real property as defined by and under the laws of the State of California. -2-