qualified real property
UNDECIDED
0 of 3 settled
- 1ALL OF
For purposes of this section, the term “qualified real property” means real property located in the United States which was acquired from or passed from the decedent to a qualified heir of the decedent and which, on the date of the decedent’s death, was being used for a qualified use by the decedent or a member of the decedent’s family, but only if—
“real property located in the United States” Opening words“which was acquired from or passed from the decedent to a qualified heir of the decedent” Opening words“which, on the date of the decedent’s death, was being used for a qualified use by the decedent or a member of the decedent’s family” Opening words“50 percent or more of the adjusted value of the gross estate consists of the adjusted value of real or personal property which— on the date of the decedent’s death, was being used for a qualified use by the decedent or a member of the decedent’s family, and was acquired from or passed from the decedent to a qualified heir of the decedent.” § 2032A(b)(1)(A)“25 percent or more of the adjusted value of the gross estate consists of the adjusted value of real property which meets the requirements of subparagraphs (A)(ii) and (C),” § 2032A(b)(1)(B)“during the 8-year period ending on the date of the decedent’s death there have been periods aggregating 5 years or more during which— such real property was owned by the decedent or a member of the decedent’s family and used for a qualified use by the decedent or a member of the decedent’s family, and there was material participation by the decedent or a member of the decedent’s family in the operation of the farm or other business, and” § 2032A(b)(1)(C)“such real property is designated in the agreement referred to in subsection (d)(2).” § 2032A(b)(1)(D) needs Step 3 is the required agreement UNDECIDED - 2
subparagraph (C) met
ALL OFduring the 8-year period ending on the date of the decedent’s death there have been periods aggregating 5 years or more during which—
“during the 8-year period ending on the date of the decedent’s death there have been periods aggregating 5 years or more” Opening words“such real property was owned by the decedent or a member of the decedent’s family and used for a qualified use by the decedent or a member of the decedent’s family, and” § 2032A(b)(1)(C)(i)“there was material participation by the decedent or a member of the decedent’s family in the operation of the farm or other business, and” § 2032A(b)(1)(C)(ii) - 3
is the required agreement
ALL OF“a written agreement”“signed by each person in being who has an interest (whether or not in possession) in any property designated in such agreement”“consenting to the application of subsection (c) with respect to such property”