IHTM15031 - The extent of the share: joint property passing by survivorship

Where the joint property passes by survivorship (IHTM15081):

  • If the deceased바카라 사이트™s spouse or civil partner (IHTM11032) is the surviving owner (or is one of the surviving owners) spouse or civil partner exemption (IHTM11031) will usually apply to the deceased바카라 사이트™s interest to the extent that it passes to the spouse or civil partner.
  • The deceased바카라 사이트™s share will be a separate title or fund from the free estate for the purposes of grossing-up (IHTM26121)

  • In most cases each joint owner바카라 사이트™s beneficial entitlement (including that of the deceased) will be an equal share of the whole property. For example, if there were three joint owners the deceased바카라 사이트™s beneficial interest would be one third of the asset. There are some exceptions to this which are:

    • Where the asset was a joint bank account in Scotland (IHTM15051) or the rest of the UK (IHTM15042).
    • In certain Scottish cases where there is a special destination (IHTM15050).
  • In England Wales and Northern Ireland each joint owner바카라 사이트™s share can be referred to as their 바카라 사이트˜severable share바카라 사이트™ as it would be the share each owner would be entitled to if they had severed (IHTM15082) the joint tenancy. But this does not apply to joint property in Scotland.