Commentary

I5.701 Meaning of 'reversionary interest'

IHT, trusts and estates

I5.701 Meaning of 'reversionary interest'

Division I5.7     Reversionary interests and powers of appointment

For updates affecting this Division please see Part I0 Updates

IHT treatment of reversionary interests

I5.701 Meaning of 'reversionary interest'

This division details the rules concerning reversionary interests in settled property, and when they are and when they are not chargeable to IHT.

A 'reversionary interest' is defined in IHTA 1984 as follows:

'In this Act “reversionary interest” means a future interest under a settlement, whether it is vested or contingent (including an interest expectant on the termination of an interest in possession which, by virtue of section 50 [see I5.212–I5.215] below, is treated as

To continue reading
View the latest version of this document, as well as thousands of others like it, sign in to TolleyLibrary or register for a free trial