GENERATION-SKIPPING TRANSFER TAX

\d͡ʒˌɛnəɹˈe͡ɪʃənskˈɪpɪŋ tɹˈansfɜː tˈaks], \d‍ʒˌɛnəɹˈe‍ɪʃənskˈɪpɪŋ tɹˈansfɜː tˈaks], \dʒ_ˌɛ_n_ə_ɹ_ˈeɪ_ʃ_ə_n_s_k_ˈɪ_p_ɪ_ŋ t_ɹ_ˈa_n_s_f_ɜː t_ˈa_k_s]\

Definitions of GENERATION-SKIPPING TRANSFER TAX

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HEREDITAMENTS

  • Tilings capable of being inherited, be it corporeal or incorporeal,real, personal, mixed, and including not only lands everything thereon, but alsolieir-looms, certain furniture which, by custom, may descend to the heir togetherwith (he land. Co. Litt. 5b; 2 Bl. Comm. 17; Nell is v. Munson, 108 N. Y. 453, 15 E.730; Owens Lewis, 40 Ind. 508, Am. Rep. 205; Whitlock Greacen. 4S J. Eq.350. 21 Atl. 944; Mitchell Warner, 5 Conn. 407; New York Mabie, 13 150, 04Am. Dec. 53S. Estates. Anything capable of being inherited, be it corporeal or incorporeal, real, personal, mixed and including not only lands everything thereon, but also heir looms, certain furniture which, by custom, may descend to the heir, together with land. Co. Litt. 5 b; 1 Tho. 219; 2 Bl. Com. 17. this term such things are denoted, as subject-matter inheritance, inheritance itself; cannot therefore, its own intrinsic force, enlarge an estate, prima facie a life into fee. B. & P. 251; 8 T. R. 503; 219, note Hereditaments are divided into corporeal and incorporeal. confined to lands. (q. v.) Vide Incorporeal hereditaments, Shep. To. 91; Cruise's Dig. tit. 1, s. 1; Wood's Inst.221; 3 Kent, Com. 321; Dane's Ab. Index, h.t.; 1 Chit. Pr. 203-229; 2 Bouv. Inst. n. 1595, et seq.
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