Amendment to section 269F clarifies valuation dates for transfers and adjusts open market valuation wording. The amendment revises sub section (9) to extend the valuation reference from the date of execution of the instrument to the date of transfer for properties of the type described in the cross referenced sub clause, and replaces the phrase describing market valuation 'on sale in the open market on the date of the conclusion of the agreement to sell' with wording that values the property 'on such transfer in the open market on the date of the conclusion of the agreement to transfer the property.'
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Provisions expressly mentioned in the judgment/order text.
Amendment to section 269F clarifies valuation dates for transfers and adjusts open market valuation wording.
The amendment revises sub section (9) to extend the valuation reference from the date of execution of the instrument to the date of transfer for properties of the type described in the cross referenced sub clause, and replaces the phrase describing market valuation "on sale in the open market on the date of the conclusion of the agreement to sell" with wording that values the property "on such transfer in the open market on the date of the conclusion of the agreement to transfer the property."
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