2.34.095   Conveyances not subject to tax - Release of ownership interest by a co-owner.
   Any tax imposed pursuant to this chapter shall not apply to the making, delivery, or filing of an instrument by which a co-owner or the co-owners of real property release his or her or their ownership interest to the other co-owner or co-owners of the real property without receiving, directly or indirectly, any monetary or other valuable consideration, where the co-owners are co-borrowers under a loan to finance or refinance the acquisition of or the construction of improvements upon the real property.
(Ord. 4279 § 1, 1995)