Los Angeles “Mansion Tax” on Fractional Interests: Does Measure ULA Apply to Partial Ownership Transfers?
Los Angeles’ controversial “mansion tax,” officially known as Measure ULA, has created substantial confusion for co-owners, buyers of a fractional interest, investors, and parties involved in partition actions. One recurring question is whether the tax applies when only a fractional interest in real property is transferred rather than the entire property. The answer is: generally, … Read More
