(a)the transfer or vesting of any estate or interest in land, or
(b)the grant of any lease,
cannot, apart from this subsection, be ascertained at the time the instrument in question is executed, the consideration for the transfer, vesting or grant shall for those purposes be taken to be the market value immediately before the instrument is executed of the estate or interest transferred or vested or, as the case may be, the lease granted.
Want to read more?
This content requires a Croner-i Tax and Accounting subscription.