Valid from 22/03/2006
[F149AImmediate post-death interestU.K.
(1)Where a person (“L”) is beneficially entitled to an interest in possession in settled property, for the purposes of this Chapter that interest is an “immediate post-death interest” only if the following conditions are satisfied.
(2)Condition 1 is that the settlement was effected by will or under the law relating to intestacy.
(3)Condition 2 is that L became beneficially entitled to the interest in possession on the death of the testator or intestate.
(4)Condition 3 is that—
(a)section 71A below does not apply to the property in which the interest subsists, and
(b)the interest is not a disabled person's interest.
(5)Condition 4 is that Condition 3 has been satisfied at all times since L became beneficially entitled to the interest in possession.]
Textual Amendments
F1Ss. 49A-49E inserted (22.3.2006) by Finance Act 2006 (c. 25), s. 156, Sch. 20 para. 5(1)(2)