This historic book may have numerous typos and missing text.
Purchasers can download a free scanned copy of the original book
(without typos) from the publisher. Not indexed. Not illustrated.
1896 Excerpt: ...it as leiiig, "situate out of the United Kingdom,"
although, in a sense, it has no situs of its own. But if, before
the Act, legacy duty was payable in respect of it, estate duty is
now payable. Thus the question is, would legacy duty have l-en
payable before the Act upon these mortgages of foreign property? I
was surprised to hear it stated that, to the present, there had not
been any decision upon this question. This seems extraordinary,
considering the large number of mortgages of foreign railways which
are held by persons domiciled in London. If the debts secured by
the mortgages were not charged upon real estate, admittedly they
would havo been liable to legacy duty. The basis of the decision of
the House of Lords in Thomson v. Advocate-General, 12 CI. & F.
18, is contained in the following sentence of the opinion of the
Judges, as delivered by Tind tl, C.J.: --" We cannot consider that
any distinction can be properly made between debts due to a
testator from jKjrsons resident in the country in which the
testator is domiciled at the time of his death, and debts due to
him from debtors resident in another and a different country; but
that all such debts do equally form art of the personal property of
the testator or intestate, and must all follow the same rule,
namely, the law of the domicil of the testator or intestate." Upon
the other baud, it is clear that if a person domiciled in this
country had, at the time of his death, an estate in land in a
foreign country, which estate was not subject to redemption, and
was not held as security for a debt, that estate would constitute
immoveable property in the foreign coimtry, and as such would not
be subject to legacy duty. Thus the net question is, what is the
effect of these deb...
|Country of origin:
Incorporated Council of Law Wales
||246 x 189 x 16mm (L x W x T)
||Paperback - Trade
Is the information for this product incomplete, wrong or inappropriate?
Let us know about it.
Does this product have an incorrect or missing image?
Send us a new image.
Is this product missing categories?
Add more categories.
Review This Product
No reviews yet - be the first to create one!