term interest in property
Defined in 2 places of the United States Code.
For purposes of paragraph (1), the term “term interest in property” means—
(A) a life interest in property,
(B) an interest in property for a term of years, or
(C) an income interest in a trust.
Source
- 1994–present26 U.S.C. § 1001Internal Revenue Code · Determination of amount of and recognition of gain or loss · in this section
The term “term interest in property” has the meaning given such term by section 1001(e)(2).
Source
- 1994–present26 U.S.C. § 167Internal Revenue Code · Depreciation · under this section