Commentary

I4.420 Variations in favour of maintenance funds

IHT, trusts and estates

I4.420 Variations in favour of maintenance funds

I4.420 Variations in favour of maintenance funds

As described in I4.417, IHTA 1984, s 142 does not generally apply to settled property in which the deceased had an interest in possession. However, IHTA 1984, s 57A enables the exemption for property going into maintenance funds for historic buildings1 to apply to the transfer of value on the death of someone entitled to an interest in possession in settled property, where the property passes into a maintenance fund within two years of his death.

See I7.544 for further information.

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