676(a) provides that a grantor will be treated as the owner of any portion of a trust when he has a power to revest
that portion in himself, provided that power is exercisable by the grantor, a nonadverse party or both.
Contract notice: Rd 46 - pr 4 + 950 - the common revest
/ toulon - crossroads of development "dardennes" - moving machinery - sanitation - floor.
Tattevin P, Watt G, Revest
M, Arvieux C, Fournier PE.
We sit at a bench to rest, A small snack helping us to revest
672(f)(2), to be a foreign grantor trust, either (1) the power to revest
title in the grantor to trust property is exercisable solely by the grantor without the approval or consent of any other person or with the consent of a related or subordinate party who is subservient to the grantor, or (2) the trust distributions must be limited to distributions to the grantor or the grantor's spouse.
While a transferor who enjoys an equitable right of rescission has power torevest an equitable title, a transferor whose intention has been vitiated by grounds for rescission recognized at common law, or who is completely ignorant of the transfer, which is for some reasons effective at law, can revest
a legal title.
The creation of a trust, where the grantor retains the power to revest
in himself title to the corpus of the trust, does not constitute a gift subject to tax, but the annual income of the trust which is paid over to the beneficiaries shall be treated as a taxable gift for the year in which so paid.
, Department of English, University of Nice
A grantor is said to have control over the trust corpus or income if he, she, or a nonadverse party, has a reversionary interest exceeding 5 percent, certain administrative powers including the ability to borrow from the trust funds, power to revoke the trust or revest
the corpus, or power to distribute income for the benefit of the grantor or the grantor's spouse .
70) This is so even though the contributor retains the right to revoke the gift and revest
the account in the contributor and the right to change the beneficiary to a new beneficiary selected by the contributor.
203) A court determined to set aside a strategic conveyance aside presumably could rescind the conveyance and revest
title in the former owner, thereby subjecting the land and its former owner to statutory liability.
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