934 / What are the Chapter 14 special valuation rules?

Special valuation rules are contained in IRC Chapter 14. Chapter 14 generally focuses on establishing the value of various interests transferred to family mem-bers at the time of the transfer when the transferor retains certain interests in the property being transferred or restrictions are placed on the property that allow the property to be acquired at less than fair market value (measured without the restrictions). Special rules apply to certain transfers of interests in corporations and partnerships (see Q 935), to certain transfers of interests in trusts and even remainder and joint purchase transactions (see Q 938), to certain agreements, op-tions, rights or restrictions exercisable at less than fair market value (see Q 943), and to various lapsing rights and restrictions (see Q 944).