26 U.S.C. § 2516
§ 2516. Certain property settlements
No plain-English explainer yet. Below is the official text. Explainers are being added section by section.
History
Part of the code since 1954. Last changed July 18, 1984 by the Deficit Reduction Act of 1984.
Every change, newest first (2)
- July 18, 1984Deficit Reduction Act of 1984
- August 16, 1954Internal Revenue Code of 1954 (original text)
The law as written
Current through Public Law 119-102. Amendment notes omitted.
Where a husband and wife enter into a written agreement relative to their marital and property rights and divorce occurs within the 3-year period beginning on the date 1 year before such agreement is entered into (whether or not such agreement is approved by the divorce decree), any transfers of property or interests in property made pursuant to such agreement—
to either spouse in settlement of his or her marital or property rights, or
to provide a reasonable allowance for the support of issue of the marriage during minority,
shall be deemed to be transfers made for a full and adequate consideration in money or money’s worth.