IHTM24101 – Ownership: The
meaning of ownership
Ownership is considered to mean
- in the case of property subject to
relevant property trusts, (
IHTM42165) legal ownership by the
trustees
- in all other cases, beneficial entitlement
(
IHTM04031) which includes entitlement
to settled property in which the deceased/transferor had a
beneficial interest in possession. (
IHTM16062)
In view of IHTA84/S91, where an unadministered residuary estate
includes agricultural property, a residuary beneficiary is treated
as owning the agricultural property, or an appropriate share of it.
(
IHTM22022)
