(1)A chargeable interest is an interest of a kind mentioned in subsection (2) which is not an exempt interest.
(2)The interests are—
(a)a real right or other interest in or over land in Scotland, or
(b)the benefit of an obligation, restriction or condition affecting the value of any such right or interest.
(3)In subsection (2), “land in Scotland” does not include land below mean low water mark.