2020 US Code
Title 26 - Internal Revenue Code
Subtitle B - Estate and Gift Taxes
Chapter 12 - Gift Tax
Subchapter B - Transfers
Sec. 2516 - Certain property settlements
| 26 U.S.C. § 2516 (2020) |
| §2516. Certain property settlements |
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Where a husband and wife enter into a written agreement relative to their marital and property rights and divorce occurs within the 3-year period beginning on the date 1 year before such agreement is entered into (whether or not such agreement is approved by the divorce decree), any transfers of property or interests in property made pursuant to such agreement— (1) to either spouse in settlement of his or her marital or property rights, or (2) to provide a reasonable allowance for the support of issue of the marriage during minority, shall be deemed to be transfers made for a full and adequate consideration in money or money's worth. |
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(Aug. 16, 1954, ch. 736, 68A Stat. 409; Pub. L. 98–369, div. A, title IV, §425(b), July 18, 1984, 98 Stat. 804.) |
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AMENDMENTS
1984—Pub. L. 98–369 substituted in introductory text "within the 3-year period beginning on the date 1 year before such agreement is entered into" for "within 2 years thereafter". EFFECTIVE DATE OF 1984 AMENDMENTPub. L. 98–369, div. A, title IV, §425(c)(2), July 18, 1984, 98 Stat. 804, provided that: "The amendment made by subsection (b) [amending this section] shall apply to transfers after the date of the enactment of this Act [July 18, 1984]." |
| United States Code, 2018 Edition, Supplement 2, 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 12 - GIFT TAX Subchapter B - Transfers Sec. 2516 - Certain property settlements |
| section 2516 |
| 2020 |
| January 13, 2021 |
| No |
| standard |
| 98 Stat. 804 |
| Public Law 98-369 |
