Commentary

I7.322 APR and replacement property

IHT, trusts and estates

I7.322 APR and replacement property

Replacement property, successions and successive transfers

I7.322 APR and replacement property

APR and replacement property—ownership

If the property in question replaced other agricultural property within the seven year period, the period is extended and the transferor's combined ownership of both properties has to comprise a total of seven years out of the ten years immediately preceding the date of transfer1. If the replaced property itself replaced other property, combined ownership of the three properties is counted, and so on. Throughout the qualifying period of seven years the property must have been occupied for agricultural purposes either by the transferor

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