Massachusetts General Laws ch. 65 sec. 3 – Gifts, etc., in contemplation of death
Current as of: 2023 | Check for updates
|
Other versions
Section 3. Any deed, grant or gift completed inter vivos, except in cases of bona fide purchase for full consideration in money or money’s worth, made not more than one year prior to the death of the grantor or donor, shall, prima facie, be deemed to have been made in contemplation of the death of the grantor or donor. Notwithstanding any provision of section one, no tax shall be payable thereunder on account of any deed, grant or gift in contemplation of death made more than two years prior to the death of the grantor or donor, unless made or intended to take effect in possession or enjoyment after such death.
Terms Used In Massachusetts General Laws ch. 65 sec. 3
- Contemplation of death: The expectation of death that provides the primary motive to make a gift.
- Deed: The legal instrument used to transfer title in real property from one person to another.
- Donor: The person who makes a gift.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.
- Grantor: The person who establishes a trust and places property into it.
- Inter vivos: Transfer of property from one living person to another living person.