If California real property is sold before the property is foreclosed upon, is withholding required?
Yes, we require withholding. The automatic exemption from withholding due to foreclosures applies when the property is acquired under any of the following circumstances: • At a sale due to a power of sale under a mortgage or deed of trust. • At a sale due to a decree of foreclosure. • By a deed in lieu of foreclosure. Note: We do not qualify a sale in anticipation of a pending foreclosure action as an exemption. We require withholding.
Related Questions
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