Cal. Code Regs. tit. 22, § 50415 – Net Market Value of Property.

(a) The net market value of real or personal property is the owner's equity in that property.
(b) The net market value shall be determined by subtracting the encumbrances of record from the market value.
(c) The net market value of real or personal property owned jointly with other persons shall be determined by subtracting the beneficiary's share of encumbrances from the beneficiary's interest in the property.

Note: Authority cited: Sections 10725 and 14124.5, Welfare and Institutions Code. Reference: Section 14006, Welfare and Institutions Code.

1. Change without regulatory effect adding Note filed 10-11-88 (Register 88, No. 45).