Can someone explain to me the 35 year change in ownership rule for leases (California)?
I'm sure it doesn't mean that the lessee obtains some sort of property interest if the lease exceeds 35 years.  Does it?
[{"id": "cvm1c88", "text": "I think you may be talking about a long term leasehold interest. Basically if you lease a property for more than 30 years that lease can be traded or amortized like physical property. Ownership of the property doesn't change.  \n\nIt's mostly used for tax purposes and often worked into 1031 exchanges to defer capital gains tax. \n\nI know just enough to get you in trouble so maybe do some research or call a firm that specializes in 1031 exchanges.  \n", "replies": [], "depth": 1}]