transfer

(redirected from transferors)
Also found in: Dictionary, Thesaurus, Medical, Financial, Encyclopedia.

Transfer

To remove or convey from one place or person to another. The removal of a case from one court to another court within the same system where it might have been instituted. An act of the parties, or of the law, by which the title to property is conveyed from one person to another.

Transfer encompasses the sale and every other method, direct or indirect, of (1) disposing of property or an interest therein or possession thereof; or (2) fixing a lien (a charge against property to secure a debt) absolutely or conditionally, voluntarily or involuntarily, with or without judicial proceedings, in the form of a conveyance, sale, payment, pledge, lien, mortgage, gift, or otherwise. The term transfer has a general meaning and can include the act of giving property by will.

Transfer is the comprehensive term used by the Uniform Commercial Code (UCC)—a body of law adopted by the states that governs mercantile transactions—to describe the act that passes an interest in an instrument (a written legal document) from one person to another.

transfer

n. 1) the movement of property from one person or entity to another. 2) passage of title to property from the owner to another person. 3) a piece of paper given to allow a person or shipment to continue travel.

transfer

verb assign, bequeath, bestow, carry, conner, consign, deed, deliver, deliver over, demise, devolve, forward, grant, hand on, pass, pass on, remove, send, shift, traducere, transferre, transmit, transmittere, transport
Associated concepts: transfer an interest
See also: abalienate, assignment, attorn, banish, bear, cargo, carriage, cede, cession, confer, consign, consignment, convert, conveyance, copy, deed, defect, delegate, delivery, demise, deport, devise, devolution, devolve, dispatch, dispensation, displace, disposition, exchange, give, grant, impart, move, reassign, refer, relegate, remand, removal, remove, replace, replacement, sale, send, subrogation, supplant, transmit, transmittal, transport, yield

transfer

to make over to another rights in or interests over property; sometimes the term is used as a noun to denote the instrument by which this is effected.

TRANSFER, cont. The act by which the owner of a thing delivers it to another person, with the intent of passing the rights which he has in it to the latter.
     2. It is a rule founded on the plainest dictates of common sense, adopted in all systems of law, that no one can transfer a right to another which he has not himself: nemo plus juris ad alienum transfers potest quam ipse habet. Dig. 50, 17, 54 10 Pet. 161, 175; Co. Litt. 305.
     3. To transfer means to change; for example, one may transfer a legacy, either, 1st. By the change of the person of the legatee, as, I bequeath to Primus a horse which I before bequeathed to Secundus. 2d. By the change of the thing bequeathed, as, I bequeath to Tertius my History of the United States instead of my copy of the Life of Washington. 3d. By the change of the person who was bound to pay the legacy, as, I direct that the sun) of one hundred dollars, which I directed should be charged upon my house which I gave to Quartus, shall be paid by my executors.

References in periodicals archive ?
transferor recognizes the portion of the remaining built-in gain that would have been allocated to the U.
In the case of any property subject to the federal gift tax, the transferor is the donor.
If the transferor is rated 'A-1' or higher, loan receivables should be deposited into a segregated custodial account within two business days of receipt, where the funds may be held for 30 days.
If the transferor is married and the property is titled in the name of only one spouse, the other spouse can join the transferor spouse in making a split-gift election, which allows for the offset against both spouses' unified credit.
A transfer of financial assets in which the transferor surrenders control over those assets is accounted for as a sale to the extent that consideration, other than beneficial interests in the transferred assets, is received in exchange.
The transferee cannot return the receivables to the transferor except pursuant to the recourse provisions.
Moreover, if the transferor is not taxable (say, a foreign or tax-exempt person), a basis increase may be engineered without paying a tax liability.
Surrendering control is based on tests involving the isolation of the transferred assets, whether the transferee has the right to pledge and/or exchange the transferred assets or is a special purpose entity, and whether the transferor maintains effective control over the transferred assets.
The IRS also noted that, under the final regulations, the transferor may elect out on future transfers even if no current-year transfer is made and the transferor is not otherwise required to file a Federal gift tax return.
Such transactions allowed the transferors to diversify their holdings, but the transfers were not taxable unless one of the specific anti-abuse provisions in the Code was triggered.
When there are multiple transferors to the trust [Prop.