A. The tax imposed pursuant to this chapter shall not apply to any instrument in writing given to secure a debt.
B. Any deed, instrument or writing to which the United States or any agency or instrumentality thereof, any state or territory or political subdivision thereof is a party shall be exempt from any tax imposed pursuant to this chapter when the exempt agency is acquiring title.
C. 1. The tax imposed pursuant to this chapter shall not apply to the making, delivering or filing of conveyances to make effective any plan of reorganization or adjustment:
a. Confirmed under the Federal Bankruptcy Act, as amended;
b. Approved in an equity receivership proceeding in a court involving a railroad corporation, as defined in subdivision (m) of Section 205 of Title 11 of the United States Code as amended;
c. Approved in an equity receivership proceeding in a court involving a corporation, as defined in subdivision (3) of Section 506 of Title 11 of the United States Code, as amended; or
d. Whereby a mere change in identity, form or place of organization is affected.
2. Subdivisions C1a to C1d, inclusive, of this section shall apply if the making, delivery or filing of instruments of transfer or conveyances occurs within five years from the date of such confirmation, approval or change.
D. The tax imposed pursuant to this chapter shall not apply to the making or delivery of conveyances to make effective any order of the Securities and Exchange Commission, as defined in subdivision (a) of Section 1083 of the Internal Revenue Code of 1954; but only if:
1. The order of the Securities and Exchange Commission in obedience to which such conveyance is made recites that such conveyance is necessary or appropriate to effectuate the provisions of Section 79k of Title 15 of the United States Code, relating to the Public Utility Holding Company Act of 1935;
2. Such order specifies the property which is ordered to be conveyed;
3. Such conveyance is made in obedience to such order.
E. Exemption from Transfer Tax.
1. In the case of any realty held by a partnership, no tax shall be imposed pursuant to this chapter by reason of any transfer of an interest in the partnership or otherwise if:
a. Such partnership (or other partnership) is considered a continuing partnership within the meaning of Section 708 of the Internal Revenue Code of 1954; and
b. Such continuing partnership continues to hold the realty concerned.
2. If there is a termination of any partnership within the meaning of Section 708 of the Internal Revenue Code of 1954 for purposes of this chapter, such partnership shall be treated as having executed an instrument whereby there was conveyed for fair market value (exclusive of the value of any lien or encumbrance remaining thereon), all realty held by such partnership at the time of such termination.
3. Not more than one tax shall be imposed pursuant to this chapter by reason of a termination described in subdivision E2 and any transfer pursuant thereto, with respect to the realty held by such partnership at the time of such termination.
F. The tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument or writing to a beneficiary or mortgagee which is taken from the mortgagor or trustor as a result of or in lieu of foreclosure; provided, that such tax shall apply to the extent that the consideration exceeds the unpaid debt, including accrued interest and cost of foreclosure. Consideration, unpaid debt amount, and identification of grantee as beneficiary or mortgagee shall be noted on the deed, instrument or writing, or stated in an affidavit or declaration under penalty of perjury for tax purposes.
G. The tax imposed pursuant to this chapter shall not apply with respect to any deed, instrument or other writing which purports to transfer, divide or allocate community, quasi-community or quasi-marital property assets between spouses for the purpose of effecting a division of community, quasi-community or quasi-marital property which is required by judgment decreeing a dissolution of the marriage or legal separation, by judgment of nullity, or by any other judgment or order rendered pursuant to Part 5 (commencing with Section 4000) of Division 4 of the Civil Code, or by written agreement between the spouses, executed in contemplation of any such judgment or order, whether or not the written agreement is incorporated as part of any of those judgments or orders. In order to qualify for the exemption under this subsection, the deed, instrument or other writing shall include a written recital, signed by either spouse, stating that the deed, instrument or other writing is entitled to the exemption. (Ord. 3620 § 27, 1985; Ord. 3602 § 32, 1985: prior code § 7.15.040: Ord. 1277, 11/28/67)