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