DIVISION 1. PROPERTY TAXATION 50-5911›PART 8. DISTRIBUTION 4651-4717›CHAPTER 1.3. Distribution of Proceeds From Sale of Tax-Deeded Property 4671-4676
§ 4672
California Revenue and Taxation Code · 2020-11 edition · updated 2026-10-04 · California
(a) There shall be distributed to the State of California, to be placed in the General Fund, one dollar and fifty cents ($1.50) for all or any portion of each separately valued parcel of real property that is both subject to a power of sale pursuant to Section 3691 and sold to private parties or to a taxing agency.
(b) The one dollar and fifty cents ($1.50) required to be distributed, pursuant to subdivision (a), shall be paid from the total proceeds of the sale. If the total amount of proceeds from the sale is insufficient, the one dollar and fifty cents ($1.50) shall be reduced accordingly.
(Amended by Stats. 2004, Ch. 407, Sec. 10. Effective January 1, 2005.)
Get a plain-English answer with a citation back to this text.
Ask AI about this code