Nolo's Plain-English Law Dictionary

Legal Dictionary Home

Need Professional Help? Talk to a Lawyer

Enter Your Zip Code to Connect with a Lawyer Serving Your Area

searchbox small
Incidents Of Ownership
Any control over property. If you give away property but keep an incident of ownership -- for example, you give away an apartment building but retain the right to receive rent -- then legally, no gift has been made. This distinction can be important if you're making large gifts to reduce your eventual estate tax.
LA-NOLO6:DRU.1.6.1.20140626.27175