Related Commentary  

1(1)  Relief may be claimed for a chargeable transaction if the following conditions are met (but this is subject to sub-paragraph (7)).

1(2)  The first condition is that the main subject-matter of the transaction consists of a major interest in a single dwelling (“the purchased dwelling”).

1(3)  The second condition is that the relevant consideration for the transaction (other than any consisting of rent) is not more than £500,000.

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