The tax imposed under this Article shall not apply where the deed, instrument, or other writing transferring title to real property between an individual or individuals and a legal entity or between legal entities results solely in a change in the method of holding title and in which the proportional ownership interests in the real property, whether represented by stock, membership interest, partnership interest, cotenancy interest, or otherwise, directly or indirectly, remains exactly the same before and after the transfer.
(As Sec. 1108(d), established by Ord. 315-67, App. 12/12/67; amended by Ord. 377-84, App. 8/31/84; Ord. 28-95, App. 2/3/95; Ord. 20-09, File No. 081450, App. 2/5/2009; amended and redesignated as Sec. 1109 by Proposition W, 11/8/2016)
(Former Sec. 1109 set forth by Ord. 315-67, App. 12/12/67; amended by Ord. 377-84, App. 8/31/84; repealed by Ord. 20-09, File No. 081450, App. 2/5/2009)