Commentary

I5.121 Scottish settlements

IHT, trusts and estates

I5.121 Scottish settlements

I5.121 Scottish settlements

Scottish entailed property comes within the definition of settled property1. 'Settlement' also includes any deed by virtue of which an annuity is charged on, or on the rents of, any property, (the property being treated as the property comprised in the settlement)2 and, 'deed' for this purpose includes any disposition, arrangement, contract, resolution, instrument or writing3. An entail or charged annuity, will, therefore, fall within the general charging provisions appropriate to trusts with an interest in possession.

In Scotland, liferented property may be held on 'proper liferent' or, more usually, through the medium of a trust. The term

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