Stamp Act · s 78

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78.
Charges of estate duty on property
(1) A rateable part of the estate duty on an estate, in proportion to the value of any property which does not pass to the executor as such, shall be a first charge on the property in respect of which duty is leviable:
 Provided that the property shall not be so chargeable as against a bona fide purchaser thereof for valuable consideration without notice.
Reimbursement of executor
(2) If the rateable part of the estate duty in respect of any property is paid by the executor, it shall when occasion requires be repaid to him by the trustees or owners of the property.

Stamp 58

Raising estate duty by sale, mortgage or terminable charge
(3) A person authorised or required to pay the estate duty in respect of any property shall, for the purpose of paying the duty or raising the amount of duty when already paid, have power, whether the property is or is not vested in him, to raise the amount of such duty and any interest and expenses properly paid or incurred by him in respect thereof by the sale or mortgage or a terminable charge on that property or any part thereof.
Payment by limited owner
(4) A person having a limited interest in any property who pays the estate duty in respect of that property shall be entitled to the like charge as if the estate duty in respect of that property had been raised by means of a mortgage to him.
Payment of duty out of “capital money”
(5) Any money arising from the sale of property comprised in a settlement or held upon trust to lay out upon the trusts of a settlement may be expended in paying any estate duty in respect of property comprised in the settlement and held upon the same trusts.

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s 78Charges of estate duty on property

(1)

A rateable part of the estate duty on an estate, in proportion to the value of any property which does not pass to the executor as such, shall be a first charge on the property in respect of which duty is leviable:

Provided that the property shall not be so chargeable as against a bona fide purchaser thereof for valuable consideration without notice.

Reimbursement of executor

(2)

If the rateable part of the estate duty in respect of any property is paid by the executor, it shall when occasion requires be repaid to him by the trustees or owners of the property.

Stamp 58

Raising estate duty by sale, mortgage or terminable charge

(3)

A person authorised or required to pay the estate duty in respect of any property shall, for the purpose of paying the duty or raising the amount of duty when already paid, have power, whether the property is or is not vested in him, to raise the amount of such duty and any interest and expenses properly paid or incurred by him in respect thereof by the sale or mortgage or a terminable charge on that property or any part thereof.

Payment by limited owner

(4)

A person having a limited interest in any property who pays the estate duty in respect of that property shall be entitled to the like charge as if the estate duty in respect of that property had been raised by means of a mortgage to him.

Payment of duty out of “capital money”

(5)

Any money arising from the sale of property comprised in a settlement or held upon trust to lay out upon the trusts of a settlement may be expended in paying any estate duty in respect of property comprised in the settlement and held upon the same trusts.