(a) This part shall be known and may be cited as the “Payment of Transfer Taxes in Kind Act.”
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Terms Used In Tennessee Code 67-8-701

  • State: when applied to the different parts of the United States, includes the District of Columbia and the several territories of the United States. See Tennessee Code 1-3-105
  • Transfer taxes: means all the taxes imposed by this chapter, including the inheritance, estate, gift and generation-skipping transfer taxes, and interest and penalties thereon. See Tennessee Code 67-8-702
(b) It is the intent of this part, in appropriate circumstances, to allow the payment of transfer taxes under this chapter by the transfer to the state of unique objects of significant historical or artistic interest, unique sites or buildings of historical interest, or interests in real property having recreational, cultural, conservational, or wildlife value, or value to the state for a public purpose. It is not the intent to create a right in anyone to pay transfer taxes in kind.
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