Ohio § 5731.07
Full text of Ohio Ohio Revised Code § 5731.07, with citation guidance and answers to common questions.
§ 5731.07.
(A) The value of the gross estate shall include the value of all property, to the extent
of any interest therein of which the decedent has at any time made a transfer, except
in the case of a bona fide sale for an adequate and full consideration in money or
money's worth, by trust or otherwise, if both of the following conditions exist: (1) Possession or enjoyment of the property can, through ownership of such interest,
be obtained only by surviving the decedent; and (2) The decedent has retained a reversionary interest by the express terms of the instrument
of transfer and the value of such reversionary interest immediately before the death
of the decedent exceeds five per cent of the value of such property. (B) “ Reversionary interest ” includes a possibility that property transferred by the decedent may return to him
or to his estate or become subject to a power of disposition by him and its value
shall be determined immediately before the death of the decedent by the usual methods
of valuation, including the use of tables of mortality and actuarial principles, under
rules and regulations prescribed by the tax commissioner.
Frequently Asked Questions About Ohio § 5731.07
What does Ohio Revised Code § 5731.07 cover?
Section 5731.07 is part of the Ohio Revised Code, the codified statutory law of Ohio. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Ohio § 5731.07?
A common citation format is "Ohio Revised Code § 5731.07" (Ohio). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Ohio law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Ohio official source linked on this page or consult a licensed Ohio attorney.
How does Ohio § 5731.07 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Ohio can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Ohio.