SECTION 1. Section 28 of chapter 118E of the general laws is hereby amended by adding at the end thereof the following:-
“In determining the eligibility of an individual who has disposed of a life estate or remainder interest in property, the Division shall determine the percentage interest of such life estate or remainder interest in accordance with 26 CFR 20-2031-7.”
SECTION 2. Section 31 of said chapter 118E is hereby amended in subsection (d) by inserting after the word “sold.” The following:-
“If the property against which the division has a lien or encumbrance is a life estate or remainder interest, the percentage interest against which the division may recover upon a sale shall be determined in accordance with 26 CFR 20.2031-7.”
The information contained in this website is for general information purposes only. The General Court provides this information as a public service and while we endeavor to keep the data accurate and current to the best of our ability, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.