In the case of any interest in qualified real property (within the meaning of section
2032A(b)), an amount equal to the adjusted tax difference attributable to such interest (within the meaning of section
2032A(c)(2)(B)) shall be a lien in favor of the United States on the property in which such interest exists.
(b) Period of lien
The lien imposed by this section shall arise at the time an election is filed under section
2032A and shall continue with respect to any interest in the qualified real property—
(1)until the liability for tax under subsection (c) ofsection
2032A with respect to such interest has been satisfied or has become unenforceable by reason of lapse of time, or
(2)until it is established to the satisfaction of the Secretary that no further tax liability may arise under section
2032A(c) with respect to such interest.
(c) Certain rules and definitions made applicable
(1) In general
The rule set forth in paragraphs (1), (3), and (4) of section
6324A(d) shall apply with respect to the lien imposed by this section as if it were a lien imposed by section
(2) Qualified real property
For purposes of this section, the term “qualified real property” includes qualified replacement property (within the meaning of section
2032A(h)(3)(B)) and qualified exchange property (within the meaning of section
(d) Substitution of security for lien
To the extent provided in regulations prescribed by the Secretary, the furnishing of security may be substituted for the lien imposed by this section.
1981—Subsec. (c)(2). Pub. L. 97–34defined “qualified real property” to include qualified exchange property (within the meaning of section
1980—Subsec. (c). Pub. L. 96–222designated existing provisions as par. (1), substituted “The rule” for “The rules”, and added par. (2).
1978—Subsec. (b). Pub. L. 95–600substituted “qualified real property” for “qualified farm real property”.
Effective Date of 1981 Amendment
Amendment by Pub. L. 97–34applicable with respect to exchanges after Dec. 31, 1981, see section 421(k)(3) ofPub. L. 97–34, set out as a note under section
2032A of this title.
Effective Date of 1980 Amendment
Amendment by Pub. L. 96–222effective, except as otherwise provided, as if it had been included in the provisions of the Revenue Act of 1978, Pub. L. 95–600, to which such amendment relates, see section 201 ofPub. L. 96–222, set out as a note under section
32 of this title.
Effective Date of 1978 Amendment
Amendment by Pub. L. 95–600applicable to estates of decedents dying after Dec. 31, 1976, see section 702(r)(5) ofPub. L. 95–600, set out as a note under section
2051 of this title.
The table below lists the classification updates, since Jan. 3, 2012, for this section. Updates to a broader range of sections may be found at the update page for containing chapter, title, etc.
The most recent Classification Table update that we have noticed was Tuesday, August 13, 2013
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Description of Change
Statutes at Large
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