Subsection ( 1 ) provides that a transaction is at an undervalue if the consideration is significantly less than the value, in money or money's worth, of the consideration provided by the transferor.
42.
In addition, when the consideration for which a property is transferred has not passed on the entire or part amount from the transferee to the transferor, the amount that had not passed too was subject to Gift Tax.
43.
In 1998, however, the U . S . Supreme Court ruled that the plain language of the MDL statute " required " remand back to the transferor for trial, and invalidated the JPML's rule.
44.
But it arises whether or not the transferor intended to retain a beneficial interest-he almost always does not-since it responds to the absence of any intention on his part to pass a beneficial interest to the recipient.
45.
The rights of the transferees will not be adversely affected, provided : they acted in good faith; the property was acquired for consideration; and the transferees had acted without notice of the defect in title of the transferor.
46.
They must demonstrate an intention to defraud on behalf of the Settlor, and they must demonstrate they are an " eligible creditor "-meaning that at the date of the transfer, the transferor owes an obligation to the claimant.
47.
Where a transferor has transferred property for an unlawful purpose, and gained the benefit, then a court might hold that he has waived his right to claim a resulting trust ( i . e . : settlor ) ( inter vivos ).
48.
This had the practical effect of extending the good faith requirement to the transferor as well as the transferee & ndash; for someone who sold, gifted or otherwise transferred the property of another in bad faith committed " furtum ".
49.
AB 962 would have required that all transfers of ownership of " handgun ammunition " be done in a face-to-face transaction, with the deliverer or transferor being provided bona fide evidence of identity of the purchaser or other transferee.
50.
If section 444AA applies, an accounting period of the transferor company ends immediately before the transfer, and the transferor also has an accounting period covering the instant of the transfer ( except for the purposes of calculating the equalisation provision for tax purposes ).
