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Inheritance tax

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mwager | 15:35 Thu 16th Mar 2006 | Business & Finance
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When a property is owned as tenants in common and one party dies, who's ownership share is bequeathed to the children. With a codicile that states the surviving party can reside in the said property until they decide to move or dies, at what stage is inheritance tax , if any, payable? And, is the tax payable at the current market value or the date when the first party died?

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Inheritance tax

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