Commentary

I9.440 Options to purchase

IHT, trusts and estates

I9.440 Options to purchase

I9.440 Options to purchase

The principles in relation to bare trusts and equities of redemption apply to options and rights of pre-emption. As an option holder has a proprietary right in the subject of the option, the right is situated where the property is1.

A right of pre-emption is contractual only and the right is situated where the obligor resides2.

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