FEDERAL · 26 U.S.C. · Chapter 14
Certain rights and restrictions disregarded
26 U.S.C. § 2703
Title26 — Internal Revenue Code
Chapter14 — SPECIAL VALUATION RULES
This text of 26 U.S.C. § 2703 (Certain rights and restrictions disregarded) is published on Counsel Stack Legal Research, covering United States primary law. Counsel Stack provides free access to over 12 million legal documents including statutes, case law, regulations, and constitutions.
Bluebook
26 U.S.C. § 2703.
Text
(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.
(b)Exceptions
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' le
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Source Credit
History
(Added Pub. L. 101–508, title XI, §11602(a), Nov. 5, 1990, 104 Stat. 1388–498.)
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Bluebook (online)
26 U.S.C. § 2703, Counsel Stack Legal Research, https://law.counselstack.com/usc/26/2703.