san franciscoIt seems that San Francisco may have just partially removed its exception from transfer tax that applied to gifts, but the Office of the Assessor-Recorder may not be aware. As a bit of background, transfer tax applies to transfers of interests in real property and, in some cases, to transfers of interests in legal entities that own real property. Transfer tax applies to transfers of interests in a legal entity when enough of the interests in the entity are transferred so as to result in a deemed “change of ownership” of the real property that it owns. Continue Reading Did San Francisco Eliminate its Transfer Tax Exception for Certain Gifts?