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Is there a GROB if A gives an undivided share in let property to a discretionary trust but keeps the income?
Practical Law Resource ID a-022-7884 (Approx. 4 pages)
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Is there a GROB if A gives an undivided share in let property to a discretionary trust but keeps the income?
Anonymous (Private practice)
Q:
I understand that where and individual makes a gift of an undivided share of an interest in land, there is no gift with reservation of benefit if the donor doesn't occupy the land, s.102B(2)&(3)(a) Finance Act 1986. Therefore if an individual, A owns an investment property, my understanding is that there is no GROB if A gives away an undivided share in that property to B, but keeps the rent that arises on that share. Is this still the case if A gives his share to a discretionary trust?
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