§ 2043 Transfers for insufficient consideration
(a) In general
If any one of the transfers, trusts, interests, rights, or powers enumerated and described in sections to 2038, inclusive, and section is made, created, exercised, or relinquished for a consideration in money or money’s worth, but is not a bona fide sale for an adequate and full consideration in money or money’s worth, there shall be included in the gross estate only the excess of the fair market value at the time of death of the property otherwise to be included on account of such transaction, over the value of the consideration received therefor by the decedent.
(b) Marital rights not treated as consideration
(1) In general
For purposes of this chapter, a relinquishment or promised relinquishment of dower or curtesy, or of a statutory estate created in lieu of dower or curtesy, or of other marital rights in the decedent’s property or estate, shall not be considered to any extent a consideration “in money or money’s worth”.
(2) Exception
For purposes of section (relating to expenses, indebtedness, and taxes), a transfer of property which satisfies the requirements of paragraph (1) of section (relating to certain property settlements) shall be considered to be made for an adequate and full consideration in money or money’s worth.
(Aug. 16, 1954, ch. 736, 68A Stat. 388; Pub. L. 98–369, div. A, title IV, § 425(a)(1), July 18, 1984, 98 Stat. 803.)
Operative text only. Editorial notes, amendment history, and effective dates: official OLRC text of § 2043