District Of Columbia § 42-1102.02 - Transfer of economic interest defined.
Full text of District Of Columbia D.C. Code § 42-1102.02 — Transfer of economic interest defined., with citation guidance and answers to common questions.
§ 42-1102.02. Transfer of economic interest defined.
42-1102.02A transfer of an economic interest in real property occurs upon the conveyance, vesting, granting, bargaining, sale, or assignment, directly or indirectly, of a controlling interest by 1 or more persons or by 1 or more transactions, within any 12-month period, in any corporation, partnership, association, trust, or other entity that, during the 12-month period immediately preceding the transfer of an economic interest in real property:
Derives more than 50% of its gross receipts from the ownership or disposition of real property in the District; or
Holds real property in the District that has a value comprising 80% or more of the value of its entire tangible asset holdings.
For the purposes of subsection (a) of this section, a transfer of a controlling interest includes the aggregate of the transfer of any legal, equitable, beneficial, or other ownership interest in:
Any entity described in subsection (a) of this section;
Any entity that is a partner in, shareholder in, or beneficiary of, an entity described in subsection (a) of this section; and
Any other entity:
That derives, directly or indirectly, any portion of its receipts from the ownership of any entity described in subsection (a) of this section; or
Has asset value that includes, directly or indirectly, any legal, equitable, beneficial, or other ownership interest in any entity described in subsection (a) of this section.
Notwithstanding any other provision of this section, as of October 1, 2009, every transfer of an interest in a cooperative housing association in connection with the grant, transfer, or assignment of a proprietary leasehold or other proprietary interest, in whole or in part, shall be a transfer of an economic interest.
Annotations
Source: official District Of Columbia text · Last verified 2026-08-27
Frequently Asked Questions About District Of Columbia § 42-1102.02
What does D.C. Code § 42-1102.02 cover?
Section 42-1102.02 ("Transfer of economic interest defined.") is part of the D.C. Code, the codified statutory law of District Of Columbia. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite District Of Columbia § 42-1102.02?
A common citation format is "D.C. Code § 42-1102.02" (District Of Columbia). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of District Of Columbia law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the District Of Columbia official source linked on this page or consult a licensed District Of Columbia attorney.
How does District Of Columbia § 42-1102.02 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in District Of Columbia can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in District Of Columbia.