Related property: definition of related property
- it is comprised in the estate of that person’s spouse or civil partner (IHTM11032), or
it is or has within the previous 5 years been the property of
and became so following an exempt transfer by the deceased, transferor or that person’s spouse or civil partner after 15 April 1976.
For the purposes of transfers to a charity or one of the other bodies listed above,whether a particular person is another’s spouse or civil partner depends on that person’s status at the date of the transfer that is being valued and not the earlier exempt transfer.
If a charity or other body sells on the assets transferred to them to another such body, then
- the property would no longer be the property of a qualifying body, and
- the 5 year period would start to run from the date of the sale.