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Land and Buildings Transaction Tax (Scotland) Act 2013

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Changes over time for: Cross Heading: Assents and appropriations by personal representatives

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There are currently no known outstanding effects for the Land and Buildings Transaction Tax (Scotland) Act 2013, Cross Heading: Assents and appropriations by personal representatives. Help about Changes to Legislation

Assents and appropriations by personal representativesS

6(1)The acquisition of property by a person in or towards satisfaction of the person's entitlement under or in relation to the will of a deceased person, or on the intestacy of a deceased person, is an exempt transaction.S

(2)Sub-paragraph (1) does not apply if the person acquiring the property gives any consideration for it, other than the assumption of secured debt.

(3)Where sub-paragraph (1) does not apply because of sub-paragraph (2), the chargeable consideration for the transaction is determined in accordance with paragraph 9(1) of schedule 2.

(4)In this paragraph—

  • debt” means an obligation, whether certain or contingent, to pay a sum of money either immediately or at a future date, and

  • secured debt” means debt that, immediately after the death of the deceased person, is secured on the property.

Commencement Information

I1 Sch. 1 para. 6 in force at 1.4.2015 by S.S.I. 2015/108 , art. 2

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