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The Pennsylvania Code website reflects the Pennsylvania Code changes effective through 54 Pa.B. 1806 (March 30, 2024).

61 Pa. Code § 91.131. Definitions.

§ 91.131. Definitions.

 The following words and terms, when used in this subchapter, have the following meanings:

   Bona fide sales transaction—A transfer between a buyer, willing but not obligated to buy, and a seller, willing but not obligated to sell, each acting with adverse economic interests at arms-length in his own self-interest and with knowledge of the value of the realty transferred.

   Computed value—The amount determined by multiplying the assessed value of the realty for local real estate tax purposes by the common level ratio factor of the taxing district.

   Grantor’s affiliate—One of the following:

     (i)   An organization, trade or business, whether or not incorporated, which is owned or controlled directly or indirectly by the grantor or by the same interests which own or control directly or indirectly the grantor.

     (ii)   A person who stands in one of the following relationships with the grantor with respect to the transaction between the grantor and grantee:

       (A)   Principal.

       (B)   Agent.

       (C)   Partner.

       (D)   Joint adventurer.


   The provisions of this §  91.131 issued under section 1107-C of the Tax Reform Code of 1971 (72 P. S. §  8107-C).


   The provisions of this §  91.131 adopted September 9, 1988, effective September 10, 1988, 18 Pa.B. 4096.

Cross References

   This section cited in 61 Pa. Code §  91.170 (relating to rule in Baehr Bros. v. Commonwealth, 487 Pa. 233, 409 A.2d 326 (1979)).

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