Cornwell University on incidents of ownership

[jft310]

Incidents of Ownership

ocument">

Any control over property. If you give away property but keep an incident of ownership -- for example, you give away an apartment building but retain the right to receive rent -- then legally, no gift has been made. This distinction can

be important if you're making large gifts to reduce your eventual estate tax.

Exxon has incidents of ownership or control over Interoil see the MIC.

Therefore they are on the hook says our US and Canadian law firms . The Canadian law firm beat Exxon in court , appears they know more than others .