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The National Assistance (Assessment of Resources) Regulations 1992
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- UK Statutory Instruments
- 1992 No. 2977
- PART III
- Regulation 27
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Capital jointly held
27.—(1) Where a resident and one or more other persons are beneficially entitled in possession to any capital asset except any interest in land—
(a)they shall be treated as if each of them were entitled in possession to an equal share of the whole beneficial interest in that asset; and
(b)that asset shall be treated as if it were actual capital.
(2) Where a resident and one or more other persons are beneficially entitled in possession to any interest in land—
(a)the resident’s share shall be valued at an amount equal to the price which his interest in possession would realise if it were sold to a willing buyer, less than 10 per cent and the amount of any incumbrance secured solely on his share of the whole beneficial interest; and
(b)the value of his interest so calculated shall be treated as if it were actual capital.
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