Commentary

I4.313 Loss on sale of land — change in nature of interest

IHT, trusts and estates

I4.313 Loss on sale of land — change in nature of interest

I4.313 Loss on sale of land — change in nature of interest

In general, an addition is made to the sale price of the interest1, unless:

  1.  

    (a)     the interest was the same in all respects and with the same incidents at the date of the death and at the date of the sale, and

  2.  

    (b)     the land in which the interest subsists was in the same state and with the same incidents at the date of the death and at the date of the sale2

In the absence of such a provision it would be possible to obtain relief by

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