Tag Archives: art transfer

The Restitution, Repatriation, and Return of Cultural Objects: Von Saher: Court Says Statute of Limitations for Recovery of Stolen Art Runs Anew Against Subsequent Purchasers/Transferees

Nearly two decades have passed since more than 40 governments and many international non-governmental organizations gathered in Washington, DC, for the Washington Conference on Holocaust-Era Assets (the “Washington Conference”). The states attending that conference endorsed a set of 11 principles, known as the Washington Conference Principles, broadly calling upon states, institutions, individuals, and others to … Continue Reading

Determining the IRS’s Fair Share: Considering Discounts to Establish the Value of Interests in Artwork for U.S. Transfer Tax Purposes

Written by William E. Keenen Under U.S. law, a tax generally is imposed whenever one individual gratuitously transfers an interest in property to another. This tax is computed on the value of the property interest transferred, whether during one’s life (to which the gift tax applies) or at one’s death (to which the estate tax applies). … Continue Reading