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Strategies & Market Trends : Repeal the Estate Tax?
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To: BWAC who wrote (27)8/9/2000 2:41:32 PM
From: donjuan_demarco   of 30
 
BWAC I did a search on my BNA cd and it looks like there is one case on the SCIN issue, Moss, 74 TC 1239(1980) where it was held valid ... however, in that case the sale was to a third party, not family.

Looks like the key issue is whether the self-cancelling feature of the note was separately bargained for (PLR 8906002).

I think you would really want a strong appraisal of the note saying "yes, the note is worth as much as the property it was exchanged for, even though it is self-cancelling, because of x, y, and z".
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