PART 2Key concepts
CHAPTER 1Land transactions and chargeable interests
Chargeable interest
I14Chargeable interest
1
A chargeable interest is an interest of a kind mentioned in subsection (2) which is not an exempt interest.
2
The interests are—
a
a real right or other interest in or over land in Scotland, or
b
the benefit of an obligation, restriction or condition affecting the value of any such right or interest.
3
In subsection (2), “land in Scotland” does not include land below mean low water mark.