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Benefit of inventory |
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BENEFIT OF INVENTORY, civil law. The benefit of inventory is the privilege which the heir obtains of being liable for the charges and debts of the succession, only to the value of the effects of the succession, in causing an inventory of these effects within the time and manner proscribed by law. Civil Code of Louis. art. 1025. Vide Poth. Traits des Successions, c. 3, s. 3, a. 2. How to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit webmaster's page for free fun content. |
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One often overlooked benefit of inventory contributions is the waiver of the appraisal requirement that otherwise applies to gifts of property with a value exceeding $5,000. nbsp;for the industry as the benefit of inventory and expense reductions achieved in 2002 will be difficult to repeat. |
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