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Commentary

I9.425 Situs of mortgages for IHT

IHT, trusts and estates

A mortgage of land normally confers on the lender an interest in land which will be situated where the land is situated1 (see I9.461). However, by English law (with which foreign law will be assumed to be identical in the absence of evidence to the contrary) the mortgage also comprises a personal obligation on the borrower to repay the loan. This obligation

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