118(1)  Subsection (2) applies where–

(a)an instrument transferring or vesting an estate or interest in land would not, apart from this section, be or fall to be treated as a transfer on sale for the purposes of stamp duty; but

(b)the transfer or vesting of the estate or interest is for consideration; and

(c)the consideration is or includes any property (“the other property”).

118(2)  For the purposes of Part I of Schedule 13 to the Finance Act 1999 (stamp duty on transfer on sale) the instrument transferring or vesting the estate or interest shall be taken to be a transfer on sale of the estate or interest.

118(3)  If–

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