The value of real estate is its computed value where the real estate is transferred through any of the following:

1. (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. (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. (3) By gift or otherwise without consideration or for a nominal consideration.
4. (4) Under a transaction other than a bona fide sale.

Authority

The provisions of this § 91.135 issued under section 1107-C of the Tax Reform Code of 1971 (72 P. S. § 8107-C).

Source

The provisions of this § 91.135 adopted September 9, 1988, effective September 10, 1988, 18 Pa.B. 4096; amended December 14, 2007, effective December 15, 2007, 37 Pa.B. 6516. Immediately preceding text appears at serial page (233362).

Cross References

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).