Examples of Property B in a sentence
To the knowledge of any of the Interest Owners, there are not (A) any claims, demands, litigation, proceedings or governmental investigations pending or threatened related to the Real Property, (B) any special assessments or extraordinary taxes except as set forth in the Title Commitment or (C) any pending or threatened condemnation or eminent domain proceeding which would affect the Property or any part thereof.
On December 31, 1996, ABC contributes Property B to Corporation X in a non- recognition transaction under section 351.(ii) On December 31, 1998, all of the stock of Corporation X is distributed to A in com- plete liquidation of A’s interest in the part- nership.
The adjusted tax basis of Property A2 in the hands of A is also determined under section 732 as if that property were the only property distributed to A.(iv) As a result of excluding Property A2 from these determinations, the amount of the excess distribution is $10,000 ($20,000 fair market value of distributed Property B less$10,000 adjusted tax basis in A’s partnership interest).
HUD will not approve Property B above-market contract rents as part of an 8(bb) transfers.
C con- tributes $30,000 cash.(iii) On December 31, 1998, Property A2 and Property B are distributed to A in complete liquidation of A’s interest in the partnership.