asked the Minister for Finance if he is aware that, in respect of persons having a right of residence on land, a claim for estate duty may arise if there is a death on the title within 12 years of such right falling in; and what steps he proposes to take to remedy the matter.
Ceisteanna—Questions. Oral Answers. - Estate Duty.
19.
The death of a person having the right of residence on land will give rise to a charge to Estate Duty on the benefit accruing by the cesser of the right and I see no reason to amend the law in this regard. The value of the benefit is that of the "slice" of land corresponding to the right. The value of this benefit will usually be very small; and, unless there is other property of substantial value passing on the death, no duty will in fact be payable on the cesser. Every claim for Estate Duty on real estate is a charge on the property in the hands of every owner but after 12 years the charge will not affect the lands in the ownership of a bona fide purchaser.