Incidents Of Ownership
What is it? Any control over property. If you give away property but keep an incident of ownership--for example, you give away an apartment building but retain the right to receive rent--then legally, no gift has been made. This distinction can be important if youre making large gifts to reduce your eventual estate tax.Added By: Justin
The Incidents Of Ownership definition has been viewed 181 Time(s)!
Send To Friends!
If you'd like to send the Incidents Of Ownership definition to yourself or to your friends/colleagues, just enter the e-mail addresses in the boxes below -We hope you now understand the meaning of Incidents Of Ownership. If you need any more information on this term, please don't hesitate to contact us.