Objection procedure for acquisition of immovable property allows interested parties to challenge applicability based on fair market value test. Objections to acquisition notices may be filed by transferors, transferees, specified persons or other interested parties within prescribed timeframes; ... Summary
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Objection procedure for acquisition of immovable property allows interested parties to challenge applicability based on fair market value test.
Objections to acquisition notices may be filed by transferors, transferees, specified persons or other interested parties within prescribed timeframes; all objections must be in writing to the competent authority. Objections may allege that the provision treating transfers as evasion-counteracting does not apply because the fair market value does not exceed the apparent consideration by more than twenty-five percent.
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