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The 'disposal condition' in relation to land is that:

1. Ìý

   (a)ÌýÌýÌýÌý at any time after 17 March 1986 the chargeable person owned an interest:

2. 1. Ìý

      (i)ÌýÌýÌýÌý in the relevant land, or

   2. Ìý

      (ii)ÌýÌýÌýÌý in other property the proceeds of the disposal of which were (directly or indirectly) applied by another person towards the acquisition of an interest in the relevant land, and

3. Ìý

   (b)ÌýÌýÌýÌý the chargeable person has disposed of all, or part of, their interest in the relevant land or the other property, otherwise than by an excluded transaction¹

The 'disposal condition' in relation to a chattel is very similar with appropriate modifications and will apply when:

1. Ìý

   (a)ÌýÌýÌýÌý at any time after 17 March 1986 the chargeable person (whether alone or jointly with others) owned:

2. 1. Ìý

      (i)ÌýÌýÌýÌý the chattel, or

   2. Ìý

      (ii)ÌýÌýÌýÌý any other property the proceeds of the disposal of which were (directly or indirectly) applied by another person towards the acquisition of the chattel, and

3. Ìý

   (b)ÌýÌýÌýÌý the chargeable person has