Glossary entry (derived from question below)
English term or phrase:
disqualifying interest
Spanish translation:
No disfrutaran ninguna interes de participacion en reparto/calificacion de recipientes
Added to glossary by
Richard Boulter
Jul 12, 2010 20:33
13 yrs ago
3 viewers *
English term
Helping you communicate with Spain
Native in: Spanish (Variant: Standard-Spain)
Works in: English to Spanish, French to Spanish, German to Spanish, and 1 more.
disqualifying interest
English to Spanish
Law/Patents
Law (general)
Testament
Hi, everybody. My account is not working, but I'll try to post my question anyway.
Here is some context:
"If any person disclaims an interest in property which he or she holds in my estate and such disclaimer would otherwise qualify under Section 2518 of the Internal Revenue Code [...] then the person shall not be entitled to have a disqualifying interest in the disclaimed property."
I'm confused with not being entitled to have a disqualifying interest. Any help will be much appreciated. Thanks
Here is some context:
"If any person disclaims an interest in property which he or she holds in my estate and such disclaimer would otherwise qualify under Section 2518 of the Internal Revenue Code [...] then the person shall not be entitled to have a disqualifying interest in the disclaimed property."
I'm confused with not being entitled to have a disqualifying interest. Any help will be much appreciated. Thanks
Proposed translations
(Spanish)
| 4 | No disfrutaran ninguna interes de participacion en reparto/calificacion de recipientes |
Richard Boulter
|
| 4 | renunciar al derecho (que le asiste) |
José Mª SANZ (X)
|
Change log
Jul 14, 2010 00:48: Richard Boulter Created KOG entry
Proposed translations
16 hrs
Richard Boulter
United States
United States
Native in English
Specializes in field
United States
USA English; a decade of experience.
Native in: English
Works in: Spanish to English, English to Spanish
Related KudoZ points
:
27
Selected
No disfrutaran ninguna interes de participacion en reparto/calificacion de recipientes
I think this is saying that "if you do not accept your share, then you do not get to help in deciding who else might qualify to get their share".
You can check this interpretation by googling the IRS Code with the section ref, to come up with explanations like the one I include here. Comparing these with other provisions in the source may serve to provide you some assurance of the intended meaning.
Happy typing!
http://www.law.cornell.edu/uscode/26/usc_sec_26_00002518----... :
TITLE 26 > Subtitle B > CHAPTER 12 > Subchapter B > § 2518
Prev | Next § 2518. Disclaimers
How Current is This? (a) General rule
For purposes of this subtitle, if a person makes a qualified disclaimer with respect to any interest in property, this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person.
(b) Qualified disclaimer defined
For purposes of subsection (a), the term “qualified disclaimer” means an irrevocable and unqualified refusal by a person to accept an interest in property but only if—
(1) such refusal is in writing,
(2) such writing is received by the transferor of the interest, his legal representative, or the holder of the legal title to the property to which the interest relates not later than the date which is 9 months after the later of—
(A) the day on which the transfer creating the interest in such person is made, or
(B) the day on which such person attains age 21,
(3) such person has not accepted the interest or any of its benefits, and
(4) as a result of such refusal, the interest passes without any direction on the part of the person making the disclaimer and passes either—
(A) to the spouse of the decedent, or
(B) to a person other than the person making the disclaimer.
(c) Other rules
For purposes of subsection (a)—
(1) Disclaimer of undivided portion of interest
A disclaimer with respect to an undivided portion of an interest which meets the requirements of the preceding sentence shall be treated as a qualified disclaimer of such portion of the interest.
(2) Powers
A power with respect to property shall be treated as an interest in such property.
(3) Certain transfers treated as disclaimers
A written transfer of the transferor’s entire interest in the property—
(A) which meets requirements similar to the requirements of paragraphs (2) and (3) of subsection (b), and
(B) which is to a person or persons who would have received the property had the transferor made a qualified disclaimer (within the meaning of subsection (b)),
shall be treated as a qualified disclaimer.
You can check this interpretation by googling the IRS Code with the section ref, to come up with explanations like the one I include here. Comparing these with other provisions in the source may serve to provide you some assurance of the intended meaning.
Happy typing!
http://www.law.cornell.edu/uscode/26/usc_sec_26_00002518----... :
TITLE 26 > Subtitle B > CHAPTER 12 > Subchapter B > § 2518
Prev | Next § 2518. Disclaimers
How Current is This? (a) General rule
For purposes of this subtitle, if a person makes a qualified disclaimer with respect to any interest in property, this subtitle shall apply with respect to such interest as if the interest had never been transferred to such person.
(b) Qualified disclaimer defined
For purposes of subsection (a), the term “qualified disclaimer” means an irrevocable and unqualified refusal by a person to accept an interest in property but only if—
(1) such refusal is in writing,
(2) such writing is received by the transferor of the interest, his legal representative, or the holder of the legal title to the property to which the interest relates not later than the date which is 9 months after the later of—
(A) the day on which the transfer creating the interest in such person is made, or
(B) the day on which such person attains age 21,
(3) such person has not accepted the interest or any of its benefits, and
(4) as a result of such refusal, the interest passes without any direction on the part of the person making the disclaimer and passes either—
(A) to the spouse of the decedent, or
(B) to a person other than the person making the disclaimer.
(c) Other rules
For purposes of subsection (a)—
(1) Disclaimer of undivided portion of interest
A disclaimer with respect to an undivided portion of an interest which meets the requirements of the preceding sentence shall be treated as a qualified disclaimer of such portion of the interest.
(2) Powers
A power with respect to property shall be treated as an interest in such property.
(3) Certain transfers treated as disclaimers
A written transfer of the transferor’s entire interest in the property—
(A) which meets requirements similar to the requirements of paragraphs (2) and (3) of subsection (b), and
(B) which is to a person or persons who would have received the property had the transferor made a qualified disclaimer (within the meaning of subsection (b)),
shall be treated as a qualified disclaimer.
4 KudoZ points awarded for this answer.
Comment: "Thanks for the info. That is exactly what I needed to know. The part in [...] was "save for the provisions of IR Code Section 2518 (b), which is the definition for "qualified disclaimer"."
25 mins
renunciar al derecho (que le asiste)
Si lo he entendido bien, parece que la persona que renuncie a cualquier tipo de derecho sobre una propiedad no podrá hacer efectiva este renuncia en el caso de que ésta se halle inmersa en el supuesto de la sección 2118. En la práctica creo que significa que se trataría de un derecho irrenunciable. Por ello, la persona seguiría teniendo algún tipo de derecho en dicha propiedad, por mucho que le pese. Es un caso paradójico en el que a alguien se le impide renunciar a un derecho. Creo que el motivo es que la existencia de dicho derecho obliga al derechohabiente a pagar ciertos impuestos. Se trataría de evitar algún tipo de picaresca.
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