Commentary

I4.562 Sales and mortgages of reversionary interests

IHT, trusts and estates

I4.562 Sales and mortgages of reversionary interests

I4.562 Sales and mortgages of reversionary interests

Where a reversionary interest in settled property falls into possession on the death of a life tenant and the reversion was sold or mortgaged before 27 March 1974 there is relief where the IHT liability is greater than the estate duty would have been. Instances of this in practice will be extremely rare — see IHTA 1984, Sch 6, para 3 and IHTM30375.

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