Land: exchange of joint interests: definition of terms
Some of the terms used in the legislation are defined for the purposes of the section.
- A holding of land includes an estate or interest in a holding of land and is to be construed in accordance with TCGA92/S243 (3), see CG72203.
- Holding land jointly means holding as joint tenants or tenants in common in England, Wales and Northern Ireland as well as coparceners in Northern Ireland. In Scotland, holding land as joint owners or owners in common.
- Co-owner means any person who holds land jointly with the landowner.
A related disposal is a disposal of an interest in the holding or one or more of the holdings at the same time as the disposal in condition B
- by the landowner to a co-owner, or
- by a co-owner to the landowner or another co-owner.
- Spouses or civil partners who are living together are treated as a single landowner or a single co-owner for the purposes of the relief.