IHTM46011 - Basic Definitions: 바카라 사이트˜Qualifying Residential Interest바카라 사이트™ and 바카라 사이트˜Residential Property Interests바카라 사이트™

Although the general principle is that RNRB applies to a person바카라 사이트™s home, the legislation refers to a person바카라 사이트™s estate including a 바카라 사이트˜qualifying residential interest바카라 사이트™. This is defined in IHTA84/S8H

There can only ever be one 바카라 사이트˜qualifying residential interest바카라 사이트™ in an estate, but of course it is possible that a person may have more than one property that either is, or has been, their home.  The legislation deals with this by defining the type of property that can qualify as a 바카라 사이트˜residential property interest바카라 사이트™ - IHTA84/S8H(2).

A 바카라 사이트˜residential property interest바카라 사이트™, means an interest in a dwelling-house which has been the person바카라 사이트™s residence at a time when their estate included that, or any other, interest in that dwelling-house. For example, this would include a house owned by the deceased that they had been living in. It could also include an apartment that the deceased lived in previously and still owned, but which was rented out at the date of death.

It is also possible for a person to have more than one 바카라 사이트˜residential property interest바카라 사이트™ in the same dwelling-house. For example someone might own half of their home absolutely, but have a qualifying interest in possession (IHTM16060) in the other half. These are two separate 바카라 사이트˜residential property interests바카라 사이트™ in the same dwelling-house.

If an estate includes 바카라 사이트˜residential property interests바카라 사이트™ in only one dwelling-house, those 바카라 사이트˜residential property interests바카라 사이트™ are automatically a 바카라 사이트˜qualifying residential interest바카라 사이트™.

If the estate contains 바카라 사이트˜residential property interests바카라 사이트™ in more than one dwelling-house, the deceased바카라 사이트™s legal personal representatives can nominate one, but only one, of those dwelling-houses.

Where the person has more than one 바카라 사이트˜residential property interest바카라 사이트™ in the same dwelling-house, for example a 50% absolute interest and a 50% interest in possession, all of those residential property interests are combined into a single 바카라 사이트˜qualifying residential interest바카라 사이트™