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Exemptions - Instruments in lieu of foreclosure.

San José Municipal Code § 4.58.050
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4.58.050 - Exemptions - Instruments in lieu of foreclosure. Any tax imposed pursuant to this chapter shall not apply with respect to any transfer to a beneficiary or mortgage which is taken in lieu of a foreclosure. The term "in lieu of foreclosure" means any transfer made with respect to any deed, instrument, or writing to a beneficiary or mortgagee, which is taken from the mortgagor or trustor to prevent the sale of property given as security for performance of an obligation. (Prior code § 18005; Ord. 21581.)
Source: City of San José, Municipal Code (Municode Library, library.municode.com)URL: https://library.municode.com/ca/san_jose/codes/code_of_ordinances?nodeId=TIT4REFIBUTA_CH4.58REPRCOTA_4.58.050EXNSLIFOFetched: 11/1/2026

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