IHTM16260 - Settled property: interest for another person's life

An interest for another person바카라 사이트™s life (known as a pur autre vie interest) is an example of an interest in possession (IIP) (IHTM16061). It is not a common case.

Example:

Income of a fund - 바카라 사이트˜to Sally during the life of Samuel, remainders to Agnes바카라 사이트™.

It is an interest for the life of another person, 바카라 사이트˜pur autre vie바카라 사이트™.

Sally has the interest in possession and on her death before Samuel there is a normal claim under IHTA84/S4 with IHTA84/S49 (1).

If Samuel dies in Sally바카라 사이트™s lifetime her interest ceases at that time and a claim arises under IHTA84/S52 (1). This is a PET (IHTM04057) as Agnes is an individual.

If Sally became beneficially entitled to her interest in possession on or after 22 March 2006, a claim under IHTA84/S4 with S49(1) or S52(1) will only arise if the interest is:

  • An immediate post-death interest,
  • A disabled person바카라 사이트™s interest or
  • A transitional serial interest (IHTM16061).

As Samuel does not have an interest in possession the fund is not taxable on his death.

As he has no power to bring Sally바카라 사이트™s interest to an end there are no lifetime IHT implications from his point of view.