### Question
How is the term liquidation, put, call, or conversion right defined?


### Answer
The term **liquidation, put, call, or conversion right** is defined in *26 U.S.C. § 2701* as the following:

> any liquidation, put, call, or conversion right, or any similar right, the exercise or nonexercise of which affects the value of the transferred interest

#### Citation:
  - *26 U.S.C. § 2701*
  - Heading: **Subtitle B-Estate and Gift Taxes > CHAPTER 14-SPECIAL VALUATION RULES**

