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Home / Simons-Taxes /IHT, trusts and estates /Part I5 Settled property /Division I5.1 Settled property—overview and key definitions /Interest in possession (IIP) / I5.147A The impact of TOLATA on rights of occupation
Commentary

I5.147A The impact of TOLATA on rights of occupation

IHT, trusts and estates

Trusts of Land and Appointment of Trustees Act 1996, s 12 (TOLATA) confers on any 'beneficiary who is beneficially entitled to an interest in possession in land subject to a trust of land' a right of occupation of the land if certain other conditions are fulfilled. Also, where two or more beneficiaries have a right of occupation of the same land, Trusts of Land and Appointment of Trustees Act 1996, s 13 of the Act empowers the trustees to exclude or restrict the rights of occupation of one or some (but not all) of them, and to impose reasonable conditions on beneficiaries whose rights of

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