PRR after appropriation


(Sally-Ann Joseph) #1

I have clients who are selling a probate property at a substantial gain. The deceased died 6 years ago and during that time 2 of the beneficiaries have been living in the property. There are 4 beneficiaries in total. The executors cannot claim PRR for the 2 that are living in the property as between them they are not entitled to 75% of the sale proceeds, however if the property is appropriated to all beneficiaries to use their annual exemptions, can the 2 occupiers now claim PRR?

Sally-Ann Joseph
QS Rose & Rose


(Simon James Northcott) #2

Yes

Simon Northcott