swarb.co.uk - law index
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Stamp Duty - From: 1960 To: 1969
This page lists 3 cases, and was prepared on 02 April 2018.
William Cory and Son Limited v Inland Revenue Commissioners [1964] 3 All ER 66
1964
CA
Lord Denning MR
Land, Contract, Stamp Duty
Lord Denning MR discussed what was meant by delivery of a document in escrow: "When an instrument is delivered in escrow, that only means that it is delivered on condition (which may be expressed or implied by conduct) that it is not to be operative until some condition is performed: see Norton on Deeds 2nd Edition page 18. A good instance is where, on a proposed sale of land, only part of the purchase price has been paid, but the vendor lets the purchaser into possession and delivers the deed to the purchaser's solicitor, and tells him to hold it until the balance is paid. The deed is clearly delivered on condition that it is not to be operative until the price is paid. Whilst the condition remains unperformed, the sale is not complete and the purchaser does not get the legal title (see Watkins v Nash in 1875 and Thompson v McCullough in 1947); but as soon as the money is paid, the sale is complete. The instrument there may precede any binding contract. But when the sale is complete it is clearly a conveyance on sale and is liable to stamp duty."
1 Citers
Commissioner of Stamp Duties (Queensland) v Livingston [1965] AC 694; [1964] UKPC 2; [1964] UKPC 45
7 Oct 1964
PC
Viscount Radcliffe
Wills and Probate, Stamp Duty, Commonwealth
A testator had died domiciled in New South Wales and with real and personal property both in New South Wales and in Queensland. He left one-third of his real and personal estate to his widow absolutely. She then died intestate, also domiciled in New South Wales, but the husband's estate was not yet fully administered. No clear residue had yet been ascertained and no final balance attributable to the shares of residue had been determined. The question was whether the deceased widow's share in her husband's real and personal estate in Queensland, a share that had devolved on her death on those entitled under her intestacy, was subject to Queensland succession duty. Did she die owning a beneficial interest in any real or personal property in Queensland? Held: No Queensland succession duty was payable.
The estate of a deceased which devolves on personal representatives comes to them "virtute officii . . in full ownership, without distinction between legal and equitable interests" but they hold the estate "for the purpose of carrying out the functions and duties of administration, not for [their] own benefit".
A beneficiary under an estate has no interest in the property to be administered, but only a right to require the estate to be duly administered, and to receive an appropriate proportion of the nett estate.
Viscount Radcliffe said: "their Lordships regard it as clearly established that Mrs. Coulson was not entitled to any beneficial interest in any property in Queensland at the date of her death. What she was entitled to in respect of her rights under her deceased husband's will was a chose in action, capable of being invoked for any purpose connected with the proper administration of his estate"
1 Cites
1 Citers
[ Bailii ] - [ Bailii ]
Cecil Wolsey Curtis Thompson and Another v The Commissioner of Stamp Duties; PC 27-May-1968 - [1968] UKPC 15