Boothbay Harbor Lawyer
All lawyers of Boothbay Harbor, ME or refine by the following practice areas
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Legal Term Highlighted
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.
