I have a query regards fall in value relief in respect of land. I have a client that is in the process of selling a property following the death of a relative. They were the sole beneficiary of the estate and also the personal representative (they used a solicitor too).
Property was valued for probate as £400k. It is being sold for £300k. However, I believe that the property is now transferred from the deceased's to the beneficiary's name.
My question is that 191 relief can only be claimed by the appropriate person, normally the executor. In this case, the appropriate person is also the beneficiary. I worry that the legal transfer of the property from the estate to the beneficiary will prove fatal to a s191 claim.
Technically the same person will be making the claim, however, it will not be in hte capacity of an executor. Does it fail?