Having thus given his parent God speed, young Jerry seated himself on the stool, entered on his reversionary interest
in the straw his father had been chewing, and cogitated.
Among her pre-matrimonial transactions with Fledgeby's father, Fledgeby's mother had raised money of him at a great disadvantage on a certain reversionary interest
. The reversion falling in soon after they were married, Fledgeby's father laid hold of the cash for his separate use and benefit.
The Cabinet also discussed and approved the Sectional Properties Bill, 2018, which vests reversionary interest
on individual unit owners and guarantees rights of property owners by conferring.
An incident of ownership also includes a reversionary interest
(whether arising under the policy or other instrument or by operation of law), but only if the reversionary interest
's value exceeded 5% of the policy's value immediately before the decedent's death (Sec.
A person has made a gift of the contract if the person (1) purchases an annuity contract, the proceeds of which are payable to a beneficiary other than the person or the person's estate, (2) retains no reversionary interest
in the estate, and (3) has no power to re-vest the economic benefits in himself or herself or the estate, or to change the beneficiary.
The issue facing the Supreme Court in Brandt III was whether the 1875 Act granted the railroads a limited fee (19) with an implied reversionary interest
to the United States or a common law easement.
(8) However, the Supreme Court remanded on the issue of compensation for reversionary interests
, saying even if the trails statute is a taking to the holder of the reversionary interest
, compensation to a holder of the revisionary interest is available under the Tucker Act for claims related to government actions.
A more than 5 percent reversionary interest
in the proceeds is an incident of ownership.
In Robinette, the Supreme Court held, in a situation involving a complex contingent reversionary interest
, that the taxpayers could not reduce a gift's value by the value of the interest because there was no accepted way of actuarially determining the interest's value and thus the value was too speculative.
greater than 5 percent, power of revocation or power to direct the distribution of trust income or corpus), trust income will be taxable to the grantor under the grantor trust rules.
The court first determined that the decedent had possessed a reversionary interest
in the life insurance policy and therefore the policy proceeds were fully includable in his gross estate.