Once a change in control or a change in ownership has occurred, does this cause an automatic reassessment of the California real property owned by the acquired legal entity?
No. Although the transfer may be deemed a change in control or change in ownership, it may qualify for one of the exclusions from reassessment for legal entity transfers. The law provides for several exclusions; specific information on exclusions is available through the LEOP information page in the section on Exclusions from Reassessment.
