Section 197 — Inheritance Tax Act 1984: Compulsory acquisition more than three years after death.

Compulsory acquisition more than three years after death. 197 1 If after the end of the period of three years immediately following the date of the death an interest in land is acquired from the appropriate person in pursuance of a notice to treat served before the death or within that period by an authority possessing powers of compulsory acquisition, this Chapter shall apply in relation to the interest as it applies in relation to interests sold within that period.

2 Subsection (1) above shall not have effect in relation to an interest if its sale value would exceed its value on death.

3 In determining the period referred to in section 192(1) above, no account shall be taken of the sale of an interest in relation to which subsection (1) above has effect;

and if the claim relates only to such interests, section 192 shall not apply in relation to the claim.