Beta This part of GOV.UK is being rebuilt – find out what this means

HMRC internal manual

Capital Gains Manual

From
HM Revenue & Customs
Updated
, see all updates

Absolute entitlement: part of trust fund: successive events

A simple example is where it provides that the property is held in trust for such of A B and C as shall reach the age of 25 or being younger shall marry, and if more than one in equal shares. When A reaches the age of 25 he has an absolute vested interest and normally can call upon the trustees to hand over a third share of the property. When B marries at 23 she too can call for a half share of what is left. Finally when C reaches 25 he can call for the balance. If on the other hand C died before reaching 25, but after A and B had absolute interests, then A and B would be entitled to divide C’s share between themselves, but would not have to wait until what would have been C’s 25th birthday.