Planning Council: Seek an opinion on whether an agreement is comparable to industry standards. The taxpayer bears the burden of proving that an agreement meets this standard. «provided that the date of the agreement setting the amount of consideration and the registration date for the transfer of the asset are not identical; the value accepted or assessed by the stamp assessment authority at the time of the agreement can be used to calculate the full value of the consideration of such a transfer: a purchase/sale agreement is comparable to similar arm length agreements if the agreement is an agreement that could have resulted in a fair conclusion between the independent parties of the same company who could have made each other`s arms (Regs). Art. 25.2703-1 (b) (4)). An agreement is considered a fair agreement if it is consistent with the general practice of unrelated parties under agreements negotiated in the same company. Concepts that reflect the state`s lag provisions can also be considered comparable or poor. This requirement creates a standard of commercial adequacy that did not exist before the adoption of P. 2703. A purchase agreement is an agreement to sell a property in the future.

This agreement sets out the conditions under which the property in question is transferred. Why was the actual consideration not taken into account as the value of the stamp tax on the date of the agreement, when it was less than the actual recital. ? If the seller does not sell or return the property to the buyer, the buyer is entitled to a special benefit in accordance with the provisions of the Specific Relief Act of 1963. A similar right is available to the seller as part of the agreement to require a certain benefit from the buyer. 2. If the market value is less than the transaction value, the value of the contract is a priority. Purchase/sale agreements and portability restrictions are useful in determining how a member`s interests are assessed for transfer tax purposes, and owners are bound by the terms of the agreement.