Internal Revenue Code · 26 U.S.C.
§ 2703. Certain rights and restrictions disregarded
Official text, no changes From the Office of the Law Revision Counsel, release point 119-121 (current through Public Law 119-121 (October 9, 2026)). Compare it with the official text at uscode.house.gov (external site).
Cite as 26 U.S.C. § 2703
At a glance
Read from the text, the source credit and the official notes. Not part of the law.
- Status
- In force
- Added
- November 5, 1990 by Pub. L. 101–508
- Length
- 2 subsections · 155 words · about 1 min to read
- Cross-references
- cites 0; cited by 0 Code sections and 3 other regulations
- Regulations
- 2 issued under this section
¶(a) General rule For purposes of this subtitle, the value of any property shall be determined without regard to—
¶(1) any option, agreement, or other right to acquire or use the property at a price less than the fair market value of the property (without regard to such option, agreement, or right), or
¶(2) any restriction on the right to sell or use such property.
¶(b) Exceptions Subsection (a) shall not apply to any option, agreement, right, or restriction which meets each of the following requirements:
¶(1) It is a bona fide business arrangement.
¶(2) It is not a device to transfer such property to members of the decedent’s family for less than full and adequate consideration in money or money’s worth.
¶(3) Its terms are comparable to similar arrangements entered into by persons in an arms’ length transaction.
(Added Pub. L. 101–508, title XI, § 11602(a), Nov. 5, 1990, 104 Stat. 1388–498.)
Regulations under this section
Treasury regulations (26 CFR) issued under § 2703
Cross-references
Computed from the citations in the text of Title 26 and 26 CFR.
Cited in 3 regulations not issued under it
Amendment history
From the source credit and the official notes, newest first.
- Added by Pub. L. 101–508