Journal Issue:
Agricultural Law Digest: Volume 13, Issue 19
Agricultural Law Digest: Volume 13, Issue 19
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Cases, Regulations, and Statutes
(
2002-10-04)
Publication
When a Contract Obligor Becomes an Owner of the Contract
(
2002-10-04)
A contract for deed or installment contract for the sale of real estate (or other assets) between parent and child is not unusual; a frequent outcome of such transactions is that the obligor under the contract becomes the owner or a co-owner of the contract after death of the contract seller which results in often unanticipated income tax consequences.