Commentary

I3.119A Property ceasing to be subject to a reservation

IHT, trusts and estates

I3.119A Property ceasing to be subject to a reservation

I3.119A Property ceasing to be subject to a reservation

If property subject to a reservation1 ceases to be subject to a reservation during the donor's lifetime2, but within seven years before his death, this is treated as a disposition of the property by the donor which is charged to tax as if it were a potentially exempt transfer.

For details, see I3.435.

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