IHTM33061 - Interest in land: definition

The term ‘interest in land’ is defined negatively so as to exclude any estate, interest or right by way of a mortgage or other security, IHTA84/S190 (1).

You should therefore regard an interest in land as including

• any estate or interest in land and buildings
• of any tenure
• whether in this country or abroad, and
• any interest in such land or buildings under a trust for sale.

The interest in land must be comprised in the deceased’s estate ( IHTM04043). It is not sufficient that it underlies what is included in the estate, for example an interest in partnership ( IHTM33063) where a partner has no right to specific partnership assets or a reversionary interest ( IHTM16231).

If it appears that on death the deceased is entitled to the (sold) underlying interest in land you should refer the case to TG.