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What property is deemed to pass.
44 & 45 Vict. c. 12.
52 & 53 Vict. c. 7.
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2. [2]
—(1) Property passing on the death of the deceased shall be deemed to include the property following, that is to say:—
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(a) Property of which the deceased was at the time of his death competent to dispose;
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(b) Property in which the deceased or any other person had an interest ceasing on the death of the deceased, to the extent to which a benefit accrues or arises by the cesser of such interest; but exclusive of property the interest in which of the deceased or other person was only an interest as holder of an office, or recipient of the benefits of a charity, or as a corporation sole;
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(c)Property which would be required on the death of the deceased to be included in an account under section thirty-eight of the Customs and Inland Revenue Act, 1881, as amended by section eleven of the Customs and Inland Revenue Act, 1889, if those sections were herein enacted and extended to real property as well as personal property, and the words “voluntary” and “voluntarily” and a reference to a “volunteer” were omitted therefrom; and
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(d) Any annuity or other interest purchased or provided by the deceased, either by himself alone or in concert or by arrangement with any other person, to the extent of the beneficial interest accruing or arising by survivorship or otherwise on the death of the deceased.
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(2) Property passing on the death of the deceased when situate out of the United Kingdom shall be included only, if, under the law in force before the passing of this Act, legacy or succession duty is payable in respect thereof, or would be so payable but for the relationship of the person to whom it passes.
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(3) Property passing on the death of the deceased shall not be deemed to include property held by the deceased as trustee for another person, under a disposition not made by the deceased, or under a disposition made by the deceased more than twelve months before his death where possession and enjoyment of the property was bonâ fide assumed by the beneficiary immediately upon the creation of the trust and thenceforward retained to the entire exclusion of the deceased or of any benefit to him by contract or otherwise.
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[2 See further as to deaths after July 1, 1896, 59 & 60 Vict. c. 28, ss. 14, 15, and as to deaths after March 31st, 1900, 63 & 64 Vict. c. 7, s. 11.] |
