1061. Revaluation reliefs for transfer within seven years before death.

The following provisions apply where, because of the transferor's death within seven years of the transfer, inheritance tax becomes chargeable in respect of the value transferred by a potentially exempt transfer or additional tax becomes chargeable1 in respect of the value transferred by any other chargeable transfer2 and (in either case) all or part or the value transferred is attributable to the value of property ('the transferred property') which:


    (1)     is, at the date of the death, the property of the person ('the transferee') whose property it became on the transfer or of his spouse or civil partner3; or