Commentary

I9.439 Interests under a contract for sale of land

IHT, trusts and estates

I9.439 Interests under a contract for sale of land

I9.439 Interests under a contract for sale of land

A purchaser's interest under a contract for the purchase of land is proprietary and is situated where the property is1. A similar principle applies to personalty where the contract is specifically enforceable.

There has been some uncertainty regarding the situs of a vendor's interest in land under a contract for sale. In principle since an unpaid vendor has a lien over the land (and retains the title until completion of the sale) his interest should be regarded as proprietary and situated where the land lies; this has certainly been established by Canadian

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