Commentary

I7.325 Replacement property, successions and successive transfers examples

IHT, trusts and estates

I7.325 Replacement property, successions and successive transfers examples

I7.325 Replacement property, successions and successive transfers examples

Example 1—death of spouse and ownership

Mr Brown died on 1 June 2017 having owned Old Farm for six years.

Under his Will Mrs Brown was entitled to his estate.

Mrs Brown died on 1 June 2018.

Although the property might not have been vested in Mrs Brown at the date of her death, she is deemed to have owned it during the six years her husband owned it and also from the date of his death.

Mrs Brown would therefore satisfy the ownership requirement.

Example 2—death of spouse and occupation

Mr Black died on 1 June 2017 having occupied Old Farm for one year.

Under his Will Mrs Black was entitled to his estate.

Mrs Black died on 1 June 2018.

Although the property might not have been vested in Mrs Black at the date of her death, she is deemed to have occupied it during the year her husband occupied it and also from the date of his death provided she had entered into occupation before her death and was still in occupation at that date.

Mrs Black would therefore satisfy the occupation requirement.

Example 3—deed of variation

Mr Silver owned

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