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How does SB 1827 impact sales of CA real property?

April 26, 2017ca impact Property sales SB

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How does SB 1827 impact sales of CA real property?

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Beginning January 1, 2007, RDP’s who sell or transfer jointly owned CA real property that will be reported on their 2007 or later tax return shall be treated as spouses for purposes of completing Form 593-B Real Estate Withholding Tax Statement. Therefore, Real Estate Escrow Persons may complete and provide RDP’s with a combined Form 593-B listing both partners for the completed real estate transaction.