In the sentence:
'The term "installment sale" means a disposition of property where at least
What precisely does "disposition" mean?
To dispose of something is to get rid of it . You give up your rights, title, etc. to the property, usually in exchange for something.
A gift would be a disposition, but of course would not be an installment sale because nothing would be received in exchange.
Katie in San Diego
And for real property, a long-term lease option with a term of at least 30 years is a disposition, per revenue rulings 60-4 and 72-85.
(Unless there have been some code changes in the subsequent decades reversing this...)
Steve
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