California Revenue and Taxation Code 3452 – The acceptance of negotiable paper constitutes payment for …
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The acceptance of negotiable paper constitutes payment for tax-defaulted property and tax-defaulted property sold at public auction as of the date of acceptance when, but not before, the negotiable paper is duly paid.
When negotiable paper is so accepted, the deed to the property so purchased shall not be delivered until that negotiable paper is duly paid.
Terms Used In California Revenue and Taxation Code 3452
- Deed: The legal instrument used to transfer title in real property from one person to another.
- negotiable paper: means checks, drafts, and money orders. See California Revenue and Taxation Code 2504
(Amended by Stats. 1984, Ch. 988, Sec. 33. Effective September 11, 1984.)