Commentary

I9.436 Property subject to an annuity

IHT, trusts and estates

I9.436 Property subject to an annuity

I9.436 Property subject to an annuity

In a case where a single beneficiary was absolutely entitled to a fund of movable property (not held on trust for sale) subject only to an annuity, it was held in Ireland1 that the beneficiary had an interest in the trust assets in specie. This interest was therefore situated where the individual assets were situated. It is not clear whether the decision would have been the same if there had been a trust for sale, or whether the decision would be followed in the UK. It should be noted that an interest

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