4A

Subsection (4B) or (4C) applies where—

a

a person disposes of a residential property interest in a dwelling-house on or after 8 July 2015 (and before the person dies), and

b

the person's personal representatives nominate—

i

where there is only one such dwelling-house, that dwelling-house, or

ii

where there are two or more such dwelling-houses, one (and only one) of those dwelling-houses.

4B

Where—

a

the person—

i

disposes of a residential property interest in the nominated dwelling-house at a post-occupation time, or

ii

disposes of two or more residential property interests in the nominated dwelling-house at the same post-occupation time or at post-occupation times on the same day, and

b

the person does not otherwise dispose of residential property interests in the nominated dwelling-house at post-occupation times,

the interest disposed of is, or the interests disposed of are, a qualifying former residential interest in relation to the person.

4C

Where—

a

the person disposes of residential property interests in the nominated dwelling-house at post-occupation times on two or more days, and

b

the person's personal representatives nominate one (and only one) of those days,

the interest or interests disposed of at post-occupation times on the nominated day is or are a qualifying former residential interest in relation to the person.

4D

For the purposes of subsections (4A) to (4C)—

a

a person is to be treated as not disposing of a residential property interest in a dwelling-house where the person disposes of an interest in the dwelling-house by way of gift and the interest is, in relation to the gift and the donor, property subject to a reservation within the meaning of section 102 of the Finance Act 1986 (gifts with reservation), and

b

a person is to be treated as disposing of a residential property interest in a dwelling-house if the person is treated as making a potentially exempt transfer of the interest as a result of the operation of section 102(4) of that Act (property ceasing to be subject to a reservation).

4E

Where—

a

a transfer of value by a person is a conditionally exempt transfer of a residential property interest, and

b

at the time of the person's death, no chargeable event has occurred with respect to that interest,

that interest may not be, or be included in, a qualifying former residential interest in relation to the person.

4F

In subsections (4B) and (4C) “post-occupation time” means a time—

a

on or after 8 July 2015,

b

after the nominated dwelling-house first became the person's residence, and

c

before the person dies.

4G

For the purposes of subsections (4A) to (4C), if the disposal is under a contract which is completed by a conveyance, the disposal occurs at the time when the interest is conveyed.