D-13.2 - Succession Duty Act

Section 8 Disposition versions

1980-06-18

8. Where the deceased has disposed of property by a deed which has taken effect more than three years prior to his death for a consideration then smaller than its market value and, prior to these three years, he had not absolutely divested himself of his right of ownership in the entirety of the said property or of any property substituted therefor, of his right to prescribe the utilisation or destination thereof or of his right to receive any consideration whatever therefor in lieu of any revenue that might arise therefrom, such property or any property substituted therefor is deemed transmitted owing to the death of the deceased but only in such proportion of its market value at the time of death as is equal to that existing between the excess of the market value at the time of disposition over the consideration then received and the market value of the property at that time.

1978, c. 37, s. 8; 1980, c. 7, s. 1.

1978-12-22

8. Where the deceased has disposed of property by a deed which has taken effect more than three years prior to his death for a consideration then smaller than its market value and, prior to these three years, he had not absolutely divested himself of his right of ownership in the entirety of the said property, of his right to prescribe the utilization or destination thereof or of his right to receive any consideration whatever therefor in lieu of any revenue that might arise therefrom, such property is deemed transmitted owing to the death of the deceased but only in such proportion of its market value at the time of death as is equal to that existing between the excess of the market value at the time of disposition over the consideration then received and the market value at that time.

1978, c. 37, s. 8.