Why might real estate be omitted from an inventory of estate property? Real estate is subject to a separate inheritance tax. State laws prohibit real property from being conveyed by an estate. State laws require a separate listing of all real estate. In some states, depending on the ownership, real estate is considered to be conveyed directly to a beneficiary at the time of death.
Why might real estate be omitted from an inventory of estate property? Real estate is subject to a separate inheritance tax. State laws prohibit real property from being conveyed by an estate. State laws require a separate listing of all real estate. In some states, depending on the ownership, real estate is considered to be conveyed directly to a beneficiary at the time of death.
Chapter3: Tax Formula And Tax Determination; An Overview Of property Transactions
Section: Chapter Questions
Problem 5DQ
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Why might real estate be omitted from an inventory of estate property?
- Real estate is subject to a separate inheritance tax.
- State laws prohibit real property from being conveyed by an estate.
- State laws require a separate listing of all real estate.
- In some states, depending on the ownership, real estate is considered to be conveyed directly to a beneficiary at the time of death.
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