Only if both of the following conditions are satisfied:

a. The sale price is not in excess of the true cash value of the property assigned to the property by the local assessor.

b. The current SEV is equal to or less than the SEV for the property on the date the transferor acquired the property.

NOTE:
The Attorney General has issued Official Opinion #7214  for this subject matter. For more information and to view Official Opinion #7214, enter the numbers 7214 in the search box titled "Locate Opinion Number" near the bottom of the Attorney General Opinions page.