Apparent consideration rules for immovable property clarify lease premium, rent and discounted future payments, and fair market value definitions. Amendments to section 269A redefine apparent consideration for immovable property-specifying treatment of premium, rent and service components in leases ... Summary
Apparent consideration rules for immovable property clarify lease premium, rent and discounted future payments, and fair market value definitions.
Amendments to section 269A redefine apparent consideration for immovable property-specifying treatment of premium, rent and service components in leases and deeming deferred payments to be the discounted value as on the date of transfer; prescribe valuation where consideration is money or things; redefine fair market value for sale, exchange and lease; expand immovable property to include certain rights; include registered statements as instrument of transfer; and broaden the meaning of transfer to cover specified leases and other means of transferring or enabling enjoyment of property.
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