§ 1554-5.1. Realty.

Latest version.

In the case of any realty held by a partnership, no tax shall be imposed pursuant to this ordinance 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.

                    
                        var val = document.getElementById('citecontent').innerHTML;
                        art.dialog.defaults.title = window.location.href;
                        art.dialog.data('cite', val);
                        art.dialog.data('homeDemoPath', '/Scripts/plus/artDialog/');
                        art.dialog.open('/Scripts/plus/artDialog/citeiframe.html');