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FEDERAL INCOME, ESTATE & GIFT TAX STATUTE 1 (PROPOSED REVISION OF § 1007(e))

handle is hein.ali/aliftp0291 and id is 1 raw text is: P R1P.SED REVISION OF §1007(e). EXCLUSION OF DIVORCE, SEPARATION, AND ANNULMENT TRANSFERS AND TRANSFERS 'BETWEEN FORM EL), SPOUSES (. Section 1007(e). A transfer is excluded from the definition of gifts when it is between (1) A husband and wife who simultaneously with, or within 2 years subsequent to, the transfer are legally separated under a final decree of divorce or a decree of separate maintenance, or whose marriage is annulled within two years of the transfer, and the transfer is pursuant to a written agreement made in anticipation of a legal separation or annulment of the marriage; or (2) A husband and wife, or former husband and former wife, who, within two years previous to the transfer, were legally separated under a final decree of divorce, or a decree of separate maintenance, or whose marriage has been annulled within that time, and the transfer is pursuant to a writing, and in modification c' a prior property settlement made in anticipaticnof, or similtaneously with, the dissolution or annulment of their marriage or their legal separation, provided that after the transfer the transferee is the beneficial owner of the property transferred and does not take the property merely as trustee or subject to an agreement to dispose of the property in favor of a third person. Amended Comments to Subsection (e). Exclusion of Divorce, Separation and Annulment Transfers and Transfers Between Former Spouses. A. Existing Provisions The comparable provision is section 2516.