The seven-year ownership (or two year occupation) condition can be satisfied where either the transferor acquired the property in question on a death, or the transfer in respect of which relief is claimed was made on the transferor's death or both occurred on a death1.
The result is that if A leaves agricultural property on his death to B, a subsequent transfer of the property by B can qualify for relief even if made less than seven (or two) years after A's death. Also, if C makes a lifetime transfer to D and D dies within the seven (or two) years the appropriate reduction can be made on D's death.
The full requirements2 are:
(1) two transfers of value (an earlier transfer and a later transfer), at least one of them on a death
(2) the earlier transfer of value must have qualified for the relief (or must have been capable of
Web page updated on 17 Mar 2025 17:45
