Inheritance Tax Manual

IHTM15032 - The extent of the share: joint property passing by Will or intestacy

Where the joint property passes by Will (IHTM12041) or intestacy (IHTM12101)

• If the joint ownership is created or evidenced by a document the deceased바카라 사이트™s beneficial interest (IHTM15011) will usually be that stated in the document. In England, Wales and Northern Ireland a document is most likely to exist where there is joint ownership of land (IHTM15044). Where there is no document and you need to establish the deceased바카라 사이트™s share, problems can arise (IHTM15040).
• A share of joint property (other than money in a joint account in both Scotland (IHTM15051) and the rest of the UK (IHTM15042)) included as part of the deceased바카라 사이트™s death estate should generally be accepted as offered. But, you may need to investigate if the deceased바카라 사이트™s share of the property shown on the IHT404 is different to the proportion of the purchase price they paid.
• Whether any spouse or civil partner exemption (IHTM11031) (IHTM11032) applies to the deceased바카라 사이트™s interest will be determined by the terms of the deceased바카라 사이트™s Will, or the rules of intestacy.
• The joint interest forms part of the deceased바카라 사이트™s free estate for grossing-up (IHTM26121).