Family and Foundation Split Joint Timber Interests Without Self-Dealing
Author: Staff Editors.
Source: Volume 03, Number 03, March/April 2004 , pp.11-11(1)
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Abstract:
Self-dealing issues can be complex and unforeseen, but not always. One very basic concept that anyone dealing with a family foundation learns early in the game is that a disqualified person may not buy, sell, or exchange property with the foundation. Sometimes, however, a way is found to engage in something that resembles a sale or exchange, notwithstanding the rules that would seem to prohibit such dealings. This was the case in a recent ruling, PLR 200350022.Keywords:
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