26 U.S.C. § 2516 — Certain property settlements
submitted 72 years ago by ch. 736 to r/title-26-INTERNAL-REVENUE-CODE · 109 words · no verdicts yet
Certain property transfers under a marital agreement near a divorce are treated as made for full and adequate money value.
When a husband and wife make a written agreement about their marriage or property rights, and they divorce during the three-year period that starts one year before the agreement date, transfers of property or property interests made under the agreement count as transfers for full and adequate money value if they are (1) to either spouse to settle that spouse's marital or property rights, or (2) to provide reasonable support for the marriage's children while they are minors. This applies whether or not the divorce decree approves the agreement.
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—
to either spouse in settlement of his or her marital or property rights, or
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.
Source credit: (Aug. 16, 1954, ch. 736, 68A Stat. 409; Pub. L. 98–369, div. A, title IV, § 425(b), July 18, 1984, 98 Stat. 804.)
- 1954Enacted · Act of Aug. 16, 1954, ch. 736
- 1984Amended · Pub. L. 98-369 · 98 Stat. 804
A history note hasn’t been published yet. The record shows enactment by ch. 736 on 1954-08-16.
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