Commentary

I12.304 Undivided shares in land

IHT, trusts and estates

I12.304 Undivided shares in land

I12.304 Undivided shares in land

In the situation where a parent transfers one half of his family residence to his child to hold as tenants in common or joint tenants, with both joint owners occupying and sharing the home and paying a commensurate proportion of the outgoings, then the reservation of benefit principle will not apply to the half given by the parent (provided that the donee does not bear more than his or her 'fair share' of the outgoings1).

There is equally no reservation of benefit where a share in land not occupied by the donor is disposed of2. Thus

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