Commentary

I5.723 Exceptions to reversionary interests being excluded—introduction

IHT, trusts and estates

I5.723 Exceptions to reversionary interests being excluded—introduction

Exceptions to the general rule for a reversionary interest

I5.723 Exceptions to reversionary interests being excluded—introduction

Reversionary interests that fall within the following categories are not treated as excluded property:

  1.  

    •     interests that have been purchased after the interest has been purchased for money or money's worth for the first time (see I5.724)

  2.  

    •     interests that have been owned by the settlor or his spouse or civil partner (see I5.725)

  3.  

    •     interests purchased by a person who already has a prior interest in the same property (see I5.726)

  4.  

    •     interests that are reversions on leases for lives — but

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