basis
Definitions from Case Law · United States Supreme Court
Definitions from Case Law
From 331 U.S. 1 - Crane v. Commissioner · 1947Most cited · 1,299 citing opinions
tax
the proper basis under §113(a)(5) is the value of the property, undiminished by mortgages thereon
How often courts cite the cases defining “basis”
Court decisions citing the 2 opinions that defined “basis” — 1,399 in all, by decade. Counts are citations to the defining cases as a whole, not verified uses of the term. The dip in the most recent years is a data-coverage gap, not a real trend — our corpus holds fewer opinions from the latest years.
All 2 definitions, chronological · 1942–1947
- ORIGINAL
The basis of assets bid in by a mortgage creditor on foreclosure is to be determined by the fair market value of the property.
foreclosure assets