Where property contracted to be sold for one consideration is conveyed to the purchaser in separate parts by different instruments, the consideration is to be apportioned as the parties think fit, but a distinct consideration for each separate part must be set forth in each instrument, and ad valorem stamp duty is chargeable in respect of each conveyance accordingly1.
Where part of the property consists of stock or marketable securities2, the above provision has effect as if 'the parties think fit' read 'is just and reasonable'
**Trials are provided to all LexisPSL and LexisLibrary content, excluding Practice Compliance, Practice Management and Risk and Compliance, subscription packages are tailored to your specific needs. To discuss trialling these LexisPSL services please email customer service via our online form. Free trials are only available to individuals based in the UK. We may terminate this trial at any time or decide not to give a trial, for any reason. Trial includes one question to LexisAsk during the length of the trial.
To view the latest version of this document and millions of others like it, sign-in to LexisLibrary or register for a free trial.
EXISTING USER? SIGN IN
TAKE A FREE TRIAL
0330 161 1234