When Is the Gain on an Intra-Entity Transfer of Land

question 93

Essay

When is the gain on an intra-entity transfer of land realized?

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Definitions:

Apparent Authority

A situation where a person appears to have been given authority to act on behalf of another, even if no actual authority has been granted.

Third Party

An entity or individual not primarily involved in a legal contract or transaction but may be affected by it or have an interest in it.

Actual Authority

The express and implied powers granted to an agent by the principal in a principal-agent relationship.

Unanimous Vote

A voting outcome where all members of a group or assembly agree on a decision.