Transfer tax

A tax upon transfers of property by will or inheritance; a tax upon the passing of the title to property or a valuable interest therein out of or from the estate of a decedent, by inheritance, devise, or bequest.

See In re Hoffman's Estate, 143 N. Y. 327, 38 N. E. 311; In re Gould's Estate, 156 N. Y. 423, 51 N. E. 287; In re Brez's Estate, 172 N. Y. 609, 64 N. E. 958.

Sometimes also applied to a tax on the transfer of property, particularly of an incorporeal nature, such as bonds or shares of stock, between living persons.