"In cases where you sell a friend your house for a dollar, the city can appeal the 'last sale price' to get a market assessment"
In France, municipalities can preempt real estate transactions as long as they offer more than the buyer, so the city would get your house for two dollars.
This is mostly to discourage under-reporting of transaction prices, as property ownership change taxes are a major revenue source for cities...
In France, municipalities can preempt real estate transactions as long as they offer more than the buyer, so the city would get your house for two dollars.
This is mostly to discourage under-reporting of transaction prices, as property ownership change taxes are a major revenue source for cities...