Qualified proceeds. Qualified pro- ceeds means the proceeds payable as a result of damage to, or destruction or involuntary conversion (within the meaning of section 1033) of, the resi- dence held by a personal residence trust, provided that the governing in- strument requires that the proceeds (including any income thereon) be rein- vested in a personal residence within two years from the date on which the proceeds are received.
Appears in 4 contracts
Samples: Internal Revenue Service Regulations, Property Division Agreement, Property Conversion Agreement
