
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 26USC2043]

 
                     TITLE 26--INTERNAL REVENUE CODE
 
                    Subtitle B--Estate and Gift Taxes
 
                         CHAPTER 11--ESTATE TAX
 
             Subchapter A--Estates of Citizens or Residents
 
                         PART III--GROSS ESTATE
 
Sec. 2043. Transfers for insufficient consideration


(a) In general

    If any one of the transfers, trusts, interests, rights, or powers 
enumerated and described in sections 2035 to 2038, inclusive, and 
section 2041 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 2053 (relating to expenses, 
    indebtedness, and taxes), a transfer of property which satisfies the 
    requirements of paragraph (1) of section 2516 (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, Sec. 425(a)(1), July 18, 1984, 98 Stat. 803.)


                               Amendments

    1984--Subsec. (b). Pub. L. 98-369 amended subsec. (b) generally, 
designating existing provisions as par. (1) and adding par. (2).


                    Effective Date of 1984 Amendment

    Section 425(c)(1) of Pub. L. 98-369 provided that: ``The amendments 
made by subsection (a) [amending this section and section 2053 of this 
title] shall apply to estates of decedents dying after the date of the 
enactment of this Act [July 18, 1984].''

                  Section Referred to in Other Sections

    This section is referred to in section 2053 of this title.
