Over the last 30 years, substantial changes have emerged over the taxation of co-owned assets (other than joint tenancy).1 Interests in real property held as community property have been eligible for a discount in value for unmarketability of the decedent’s fractional interest, at least since 1982.2 However, discounts for undivided interests in tenancy-in-common ownership of property otherwise were rejected until fairly recently.3
Harl, Neil E.
"Discounts for Co-ownership Interests,"
Agricultural Law Digest: Vol. 28
, Article 1.
Available at: https://lib.dr.iastate.edu/aglawdigest/vol28/iss11/1