2018 US Code
Title 26 - Internal Revenue Code
Subtitle B - Estate and Gift Taxes
Chapter 14 - Special Valuation Rules
Sec. 2703 - Certain rights and restrictions disregarded
| 26 U.S.C. § 2703 (2018) |
| §2703. Certain rights and restrictions disregarded |
|
(a) General rule
For purposes of this subtitle, the value of any property shall be determined without regard to— (1) any option, agreement, or other right to acquire or use the property at a price less than the fair market value of the property (without regard to such option, agreement, or right), or (2) any restriction on the right to sell or use such property. Subsection (a) shall not apply to any option, agreement, right, or restriction which meets each of the following requirements: (1) It is a bona fide business arrangement. (2) It is not a device to transfer such property to members of the decedent's family for less than full and adequate consideration in money or money's worth. (3) Its terms are comparable to similar arrangements entered into by persons in an arms' length transaction. |
|
(Added Pub. L. 101–508, title XI, §11602(a), Nov. 5, 1990, 104 Stat. 1388–498.) |
| United States Code, 2018 Edition, Title 26 - INTERNAL REVENUE CODE |
| Bills and Statutes |
| United States Code |
| Y 1.2/5: |
| Title 26 - INTERNAL REVENUE CODE Subtitle B - Estate and Gift Taxes CHAPTER 14 - SPECIAL VALUATION RULES Sec. 2703 - Certain rights and restrictions disregarded |
| section 2703 |
| 2018 |
| January 14, 2019 |
| No |
| standard |
| 104 Stat. 1388-498 |
| Public Law 101-508 |
