Commentary

I5.115 Property burdened with an annuity as settlement

IHT, trusts and estates

I5.115 Property burdened with an annuity as settlement

I5.115 Property burdened with an annuity as settlement

The important point to note in connection with this definition of a trust1 is that there is no requirement of a trust, and if there were the paragraph would probably be superfluous as adding nothing to 'in trust for persons in succession' in IHTA 1984, s 43(2)(a). However, where any annuity or periodical payment is charged on land it will formerly have given rise to a settlement for the purposes of the Settled Land Act 19252. Subject to certain exceptions, new settlements created on or after 1 January 1997 cannot be subject

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