(a) Any tax imposed pursuant to this chapter shall not apply with respect to any instrument which purports to convey, divide, or allocate community, quasi-community, or quasi-marital realty assets between spouses for the purpose of effecting a division of community, quasi-community, or quasi-marital realty which is required by a judgment decreeing a dissolution of the marriage or legal separation by a judgment of nullity, or by any other judgment or order rendered pursuant to Part 5 (commencing with Section 4000) of Division 4 of the Civil Code of the State of California, as amended, or by a written agreement between the spouses, executed in contemplation of any such judgment or order, whether or not the written agreement is incorporated as part of any of those judgments or orders.
(b) Any tax imposed pursuant to this chapter shall not apply with respect to any instrument which purports to convey, divide, or allocate community, quasi-community, or quasi-marital realty assets or realty assets held in joint tenancy or tenancy in common between spouses, provided:
(1) The owner-spouses acquired their respective interests in the same transaction; and
(2) No consideration beyond a release from any indebtedness secured by the interest in realty conveyed is received by the transferor-spouse in effecting such conveyance.
This subsection (b) shall not extend to the conveyance of realty assets wholly owned by the transferor-spouse to a transferee-spouse.
(c) In order to qualify for the exemption provided in subsections (a) and (b), the instrument shall include a written recital, signed by either spouse, stating that the instrument is entitled to the exemption.
(Ord. 4073 § 11, 1992)