Definition of "Bargain sale"

Dawna Stone real estate agent

Written by

Dawna Stoneelite badge icon

The Property Shoppe of Central Florida, Inc.

Charitable planning strategy in which a donor sells an asset to the charity for an amount less than its fair market value. Internal Revenue Service regulations require that the tax basis for the property be established on a pro rata schedule between the sale portion and the gift portion. The donor has a taxable gain on the sale portion.

image of a real estate dictionary page

Have a question or comment?

We're here to help.

*** Your email address will remain confidential.
 

 

Popular Insurance Terms

Effort by an individual to continue to receive disability income benefits by taking a continuing sickness or injury. ...

Circumstance where an insurance company takes the place of an insured in bringing a liability suit against a third party who caused injury to the insured. For example, if a third party, ...

One that provides group health or pension benefits for a multiemployer plan. To lower the cost, small firms band together to take advantage of the economies of large group underwriting. ...

Insurance company formed according to the legal requirements of a foreign country. In order for an alien insurer to be able to carry on general operations and sell its products in a ...

Direct payment to a new custodian for a retirement plan. This payment is not a taxable event since it is not a distribution. The payment must be between like plans; for example, one ...

Life insurance in which the debit system is used to collect premiums on a monthly basis. ...

In health insurance, the applicable average rate charged for a semiprivate room in the geographical area in which the charge is incurred. ...

In property insurance policies, provision that excludes the insurance company's liability for indemnification of the insured for the insured's expenses incurred in the demolition of ...

The definition of special acceptance explains how two insurance institutions work together for the benefit of the masses. In order to define what special acceptance means, we must ...

Popular Insurance Questions