California Real Estate Practice Exam

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Master the California Real Estate Exam with our comprehensive practice quiz. Get expert tips, detailed content review, and insider strategies to pass on your first try.

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For taxation purposes, if a property transfer is not recorded, within how many days must the new owner file the change in property ownership statement?

The correct answer is: 45

If a property transfer is not recorded for taxation purposes, the new owner must file a change in property ownership statement within 45 days. This statement must be filed to ensure that the property is assessed at the correct value for tax purposes. Options B, C, and D are incorrect as they exceed the 45-day timeline. Failing to file the statement within the specified timeframe may result in penalties or incorrect tax assessment. Therefore, it is essential for individuals to be aware of the 45-day requirement and file the statement promptly to avoid any issues with taxation.