Examlex
If a corporation's total adjusted bases for all properties transferred exceed the total FMV of the properties, the corporation's bases in the property is limited to FMV if no election is made.
Trustee
An individual or organization appointed to manage assets or property on behalf of others, typically in a trust.
Governing Statute
The specific law or legislation that regulates and controls a particular matter or area.
Succession And Inheritance Laws
Legal principles governing the distribution of a deceased person's estate among heirs or beneficiaries.
Uniform Probate Code
A set of laws designed to simplify the process of transferring a deceased person's assets to their beneficiaries.
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