301-760 Who is the ‘seller’ in a free-standing transfer?
In the event of a free-standing transfer, the general definition of the seller given in Sch. 2, para. 11 and discussed in ¶301-740 does not apply. Instead, where:
•there is a pre-completion transaction that is a free-standing transfer and the transferee acquires the subject-matter of that free-standing transfer or is treated to have acquired it consequent on the substantial performance of a contract that is subject to completion by a transfer under s. 10(4) (for which see ¶301-410); or
•the pre-completion transaction is an assignment of rights, and either:
–the subject-matter of the original contract is transferred to the transferee; or