Transferee meaning

Example of Legal Contract A house transfer is a common example of a legal contract. In addition to the house itself, a transfer involves land and a bank, who acts as the third-party mortgage originator. The transferor is the party who enters into the legally binding agreement and keeps track of the details required by the transfer terms. Transfers of assets are necessary for a healthy economy. Good economic times see high market liquidity and Difference Between A Transferee and A Transferor The legal difference between the term “Transferee” and “transferor” is often difficult to distinguish between the two. In most cases, the Transferee is a legal entity. A Transferee can be a person or entity that has acquired the Transferred Assets. It is also possible for a Transferor to be a legal entity that has not yet transferred its assets. Both parties must follow the same procedures in order to avoid potential liability. The difference between a transferor and a transferee comes down to the way the property is conveyed. A transferor, or person who makes a transfer, provides title to the transferee and pays the transfer charges. A transferee, on the other hand, receives custody of the property. If the transfer is legal, the transferor has the responsibility to provide the transferee with the title. The power to execute, deliver, and perform is also crucial to the Transferee. While the transferor retains the power to dispose of the transferred property, the Transferee has the autho...

The Court of Tax Appeals (CTA) en banc discussed the foregoing exception in a recent case (CTA EB 1713) where the Court emphasized the requisites of tax-free exchange, to wit: (a) the transferee is a corporation; (b) the transferee exchanges its shares of stock for property/ies of the transferor; (c) the transfer is made by a person, acting alone or together with others, not exceeding four persons; and, (d) as a result of the exchange the transferor, alone or together with others, not exceeding four, gains control of the transferee. According to the statement of facts stipulated to by the parties before sentencing, Pino "[o]n or about March 12, 2016, Defendant purchased for $439.99 a Glock, Model 23, .40 caliber semi-automatic pistol, bearing serial number ABKC629US, from the Marine Corps Exchange." In making this purchase, "Defendant completed an ATF Form 4473." On the ATF Form 4473, Defendant "checked the box indicating that he was the actual buyer and transferee of the firearm even though he was really planning to resell the firearm for profit." "Later that day, the [D]efendant sold the Glock 23, which was in brand-new condition and packaged in the box with grip extensions."

Transferee vs. transferee: Do these two terms sound familiar to you? These words confuse many people, but you need not worry because we are here to help you learn how to use them. A transferee is someone who receives another person’s property or belonging in a legal transfer process. It also refers to someone who moves from one position, location, or company to another. A transferor is someone who conveys a title, belongings, or property to someone else. The link between these words is clear from their spelling. What other correlation do these words have? This post reveals the definitions, usage, and much more. Definitions Of Transferee And Transferor The initial element in both words is “transfer.” Therefore, it would make a lot of sense first to define the word “transfer.” Transfer means “to move or pass a person or item from one place to another” or “to convey something from one person to another.” With the knowhow of “transfer,” let us look at the definitions of “transferee” and “transferor:” Definition Of Transferee A transferee is a person that receives someone’s property or belongings following a transfer process. For example, “The furniture will arrive at the transferee’s home on Monday morning.” In law, a transferee is a person that receives a title or ownership. In a sentence, “The transferee must pay the notary fees for the transfer documents.” Another definition is someone who transfers from one position to another. It can be through volition or order from a se...

Recent Examples on the Web Choose carefully—the transferee should be highly adaptable, versed in the local language, a great mentor and an even more outstanding team player. — Marianella Manzur, Forbes, 13 Feb. 2023 If the property later appreciated in the transferee's favor, too bad for the creditor as that simply doesn't matter. — Jay Adkisson, Forbes, 21 Oct. 2021 That money judgments are awardable under the UVTA, but damages are not, is something that frequently throws courts for a loop when a creditor requests money from the transferee instead of simply avoidance of the transfer. — Jay Adkisson, Forbes, 30 Oct. 2021 The problem for the creditor is how to get at that equity, and if the residence has been sold then the creditor is usually left (as here) with a fraudulent transfer action against the transferee. — Jay Adkisson, Forbes, 21 Oct. 2021 Allows film and digital media production tax credits to be claimed against the sales and use tax if there is common ownership of at least 50% between the transferor and transferee and at 92% of face value. — Christopher Keating, courant.com, 22 Apr. 2021 Supporters of the Guatemala-United States deal point to the large number of transferees who have left Guatemala as evidence that their asylum cases likely had little merit. — Kirk Semple, New York Times, 17 Mar. 2020 Chapter members — active, inactive, on leave, transferees and their guests — must reserve by Tuesday at (951) 760-0086 or (760) 644-2394. — San Diego Union-Tribune...