The father, Lord Nichols, in 1954, decided to make a gift of his family home and the surrounding estate to his son, aged 22. The father was to transfer the estate and the son would immediately lease the bulk of the property back to the father, the lease to contain a full repairing covenant on … Continue reading In re Nichols, deceased: ChD 1974
The father, Lord Nichols, gave property to his sons who then leased it back to him. On the father’s death the revenue claimed duty. Held: Goff LJ: ‘Having thus reviewed the authorities, we return to the question what was given, and we think that a grant of the fee simple, subject to and with the … Continue reading In re Nichols, deceased: CA 2 Jan 1975
The donor exercised powers of appointment ‘to make some part of the settled property his own’, and it was ‘wholly irrelevant that by a contemporaneous or later transaction he surrenders his life interest in other parts of it’. The different parts of the property were distinct personal assets, none being real property or an interest … Continue reading St Aubyn v Attorney General: HL 12 Jul 1951
