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What Is the Impact on a Transferor If a Sec

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What is the impact on a transferor if a Sec. 351 exchange involves the assumption of the shareholder's liabilities by the corporation?


Definitions:

Chromatid

A chromatid is one of two identical halves of a replicated chromosome, which are joined at their centromeres, before being separated during cell division.

Early Prophase

The initial phase of mitosis or meiosis when chromosomes begin to condense and the nuclear envelope starts to break down.

Metaphase

Stage of mitosis at which all chromosomes are aligned midway between spindle poles.

Telophase

The final phase of cell division where chromosomes arrive at opposite poles, nuclei reform, and the cell begins to split.

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