29.(1) For the purposes of this act, the ownership, usufruct or enjoyment of the capitalized value of any life rents or other rents and endowments, constituted, purchased or paid for by the deceased less than five years prior to his death, shall be deemed to be transmitted owing to death if the said rents or endowments have been stipulated payable to a third person alone or jointly with the deceased, or to the deceased with the right of reversion to a third person.
This subsection shall not apply when the amount handed over or paid by the deceased for the constitution or purchase of the said rents or endowments during the period contemplated above does not exceed one thousand dollars in all.
When the deceased has constituted or purchased such rents and endowments jointly with another person, the value deemed to be transmitted owing to death shall consist of the proportion constituted, purchased or paid for by the deceased in relation to the whole.
(2) For the purposes of this act, a disposition which consists of leaving to one or more survivors of several joint proprietors a property, held in common or joint ownership before the death, is assimilated to a gift in contemplation of death and the share of the deceased shall be deemed to be transmitted owing to his death.
(3) For the purposes of this act, the following shall form part of the estate of the deceased and be deemed as transmitted owing to his death: all property which was not in the estate at the time of the death, but which enters it by a subsequent transfer made by its owner to the donee, legatee, executor or trustee of the deceased, to be dealt with according to the wishes of the deceased, if the said transfer has been made gratuitously or in consideration of benefits granted by the deceased.