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Land and Buildings Transaction Tax (Scotland) Act 2013

Section 7 – Buyer and seller

26.Section 7 defines “buyer” and “seller”.(6) The “buyer” is the person acquiring the subject-matter of the transaction, and “seller” is the person disposing of the subject-matter of the transaction. But a person is not a buyer if they are not a party to or have not provided consideration for the transaction.

27.Defined terms used in this section:

“subject-matter”section 61
6

The terms used for SDLT are “purchaser” and “vendor”, reflecting English conveyancing practice.

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Text created by the Scottish Executive department responsible for the subject matter of the Act to explain what the Act sets out to achieve and to make the Act accessible to readers who are not legally qualified. Explanatory Notes were introduced in 1999 and accompany all Acts of the Scottish Parliament except those which result from Budget Bills

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