Commentary

I7.367 Freehold reversions and APR

IHT, trusts and estates

I7.367 Freehold reversions and APR

I7.367 Freehold reversions and APR

A freehold interest subject to an agricultural tenancy protected by the Agricultural Holdings Act 1986 (see I7.362) does not give the owner the right to vacant possession (as the tenant cannot be evicted) and the value of his interest will be considerably less than the full vacant possession value.

The theoretical valuation arguments are similar to those for the tenant (see I8.367). There is a potential special purchaser (in this case the tenant) who might pay a special price to acquire a marketable investment with vacant possession, but with the important difference that the interest

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