PART IX ANNUAL PAYMENTS AND INTEREST
Relief for payments of interest (excluding MIRAS)
358 Relief where borrower deceased.
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Where any interest paid by persons as the personal representatives of a deceased person or as the trustees of a settlement made by his will would, on the assumptions required by this section, be eligible for relief under section 353 by virtue of section 354 above and, in a case where subsection (3) below applies, one of the conditions in subsection (4) below is satisfied, that interest shall be so eligible notwithstanding sections 354 to 357.
2
For the purposes of subsection (1) above it shall be assumed that the deceased would have survived and been the borrower.
3
If, at his death,—
a
the land, caravan or house-boat concerned was used as his only or main residence, or
b
it was used by him as a residence or was intended to be used in due course as his only or main residence and, in either case, he resided in job-related living accommodation;
that shall be assumed for the purposes of subsection (1) above to have continued to be the case.
4
The conditions referred to in subsection (1) above are—
a
that, at the time the interest is paid, the land, caravan or house-boat concerned is used as the only or main residence of the deceased’s widow or widower F1or of any dependent relative of the deceased;
b
that, at that time, it is used by the deceased’s widow or widower as a residence or is intended to be used in due course as his or her only or main residence and, in either case, he or she resides in job-related living accommodation.
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5
In this section “personal representatives” has the meaning given by section 701; and subsections (3) to (6) of section 356 apply in relation to this section as they apply in relation to that.