Page:United States Statutes at Large Volume 43 Part 1.djvu/343

 312 SIXTY-EIGHTH CONGRESS. Sess. I. Ch. 234. 1924. general law, or commence appropriate proceedings in any court of the United States having jurisdiction, in the name of the United , States, to subject the property of the decedent to be sold under the U’° °“"°°°°°" judgment or decree o the court._ From the proceeds of such sale the amount of the tax, toigether with the costs and expenses of every description to be allowe by the court, shall be first paid, and the balance shall be deposited according to the order of the court, to _ be aid under its direction to the person entitled thereto. B°*¤%"°"°'“°°"'°'“ 5.) If the tax or any part thereof is paid by, or collected out of estate xt tax paid by _ _ _ ¤¢¤¤r¢1¤¤¤¤¤¤¤¤¤>r- that part of the estate passing to or .111 the possession of, any person other than the executor m his capacity as such, such person shall be
 * ¤"*" ui- Commissioner, proceed to collect the tax under the provisions of
 * 11tgtl;d1t0 ilgeimburiemept ou;-gf any tpirttof the ielstate st1ll uiildis-

·1'1 u or a jus an equi e con r1 u ion y e persons w ose mterest in tile estate of the decedent would have been reduced if the tax had been paid before the distribution of the estate or whose interest is subject to equal or prior liability for the payment of taxes, debts, or other charges against the estate, it being the purpose and
 * 1ntenttegfbth1ti1t1tleli:h?:tio gn  IS piacticalgga  unless otherwise

.. 1rec y ewi o eeceenttetax a 'd tfth wil? . lm °° estate before its distribution _ If any part of the giihgsh egtlatg con? s1sts_of proceeds of policies of insurance upon the life of the decedent s::.:2a.z*2. *“2:€ss.°;£:; azzzgtzsmim is meta? ihtli _ _ 1 suc po ion o e o a tax paid as the proceeds, in excess of $40,000, of such policies bear to the net estate. If there is more than one such beneficiary the executor Ummm m B um M  be ézgtitled t%15covet1i1fr<;I,,n;such beneiic1ar&es infltillile sarge rixltio. ,,,,y,,,,,_ _. . a ess e issoonerpai 111 it a be Pm ¤*°°P*°d· liexil for rtienfyplprs upon etshetagross estatg of th}? decedexit, except that suc_pa 0 egross a asisuse t t fh Hmm on pa mt against the estate and expenses of its admizistdatiidgxcllovgedcb; Ym ‘ court havingjurisdiction thereof, shall be divested of such lien. If the Commissioner is satisfied that the tax liability of an estate has been fully discharged or provided for, he may, under regulations pre- Z§’€J°"£1EZSii]Z‘§“,.`§‘,t1§,t§‘§§£’§’,f£§”§}§}SEiT.i.€$°€'€°“E”’ iS€f.‘° as fm', 7 3 I` Lien on transfers in 1mP0S8d° 6 Om G len Brun matampiaexcaeraeazu. (b)  thé d€06d€I1¢ I}li1k6S 51 transfer Of, or creates a trust with §,Bp;ciu P;) any_(pI;·<;>p'erty in cohtetmplatiitzn of gr ipltended to take SScSS1 en o men a ’ · Lmmmmml case of a bona tide sale fbrya fair coigiileraltioif in6iI1ion$a;¤xh>i·P1i1¢iI1iet51d(3-org;) pr (2i) if iniurancepaxes under a contract executed by the »·~»·»···»»»·— tf; i§“r..L‘?,t"€§aM El.? b"'&°H°t“‘”"d““d ii “‘ °ffh°" °“" “‘° 1 a1 w en trustw, or benehciary shall beptpersonally liiiible fdr tsxilclirtsilifgziiiiil ppopeigyé to Iéhe extent of e decedent’s interest therein at the ndco sia: 1La ter} or to the extent of such beneficiary’s interest I Mya, t www p thi- suc eqn pac pl gnsurance, shall be subject to a like lien equal tztgxas a B pm. to e; amoun no suc ax. Any part of such property sold by such {lags eree or ustee to a bona fide purchaser for a fair consideration Hm Sti1!;fg’é>11guH:1<;1€;yhst;vo1]3tl;hshall be divested of the lien and a like PXCB t an Mt ld t ab e property of such transferee or trustee, in ml;ney);ul)mOI?gy’S 3, Hi-dpna de purchaser for a. fair consideration . 0 . ‘ d,§§,;§;l§,E‘,i‘%  t Src. 313; If after the enactment of this Act the Commissioner dem_ W 3,,41 ms; VOL errnmes at any amessment should be made in respect of any estate cmp. 271. tax dlmposed by the Revenue Act of 1917, the Revenue Act of 1918, or e Reylenlnie Act of 1921, or by any such Act as amended, the amount w 1C should be assessed (whether as deficiency or additional tax or as interest, penalty, or other addition to the tax) shall