»Ê¹ÚÌåÓýapp

Land sold to financial institution and re-sold to a person: »Ê¹ÚÌåÓýapp first transactionFA03/S73(2)

Relief on the first transaction, the purchase of a major interest in land by thefinancial institution, may be claimed by the financial institution if the vendor is

• the person who enters into the arrangements - the first case
• another financial institution by whom the interest was acquired under arrangements of the kind mentioned at SDLTM28110 entered into between it and the person - the second case

Thus, in the first case, the person may

• obtain finance against a property owned by them
• set up a new arrangement with their existing financial institution

In the second case the individual may change lenders. »Ê¹ÚÌåÓýapp second case also allows financial institutions to transfer title between themselves where the person is not involved.