IHTM04274 - Foreign settled property: identifying settled property
The expression 바카라 사이트榩roperty comprised in a settlement바카라 사이트� in IHTA84/S48 (3) means the items of property (IHTM04030) held in the settlement (IHTM16042) at the time of the chargeable event you are considering. In determining听the locality (IHTM27071) of any particular property you should consider the property in its current form and not its previous听丑颈蝉迟辞谤测.听
听
Example听
听
听Stella, who听is never a听long-term UK resident听(IHTM47000), transfers a house in Germany바카라 사이트痑nd some UK securities바카라 사이트痠nto a settlement for Xavier听(also not a long-term UK resident)听for his life with remainder听to Yolanda. On Xavier바카라 사이트檚 death - the potentially chargeable event - the settled fund consists of:
Option 1: a villa in Spain.听
Option 2: land in the UK.听
Option 3: a house in Spain and some바카라 사이트疷K securities.听
With Option 1 the villa is excluded property even though it partly represents听the proceeds of what was previously UK property (the securities).听
The land in바카라 사이트疧ption 2바카라 사이트痠s not excluded property although it is partly derived from the proceeds of sale of the German house.听
In Option 3 the house in Spain바카라 사이트痠s excluded property but the UK securities are not.