CG53510 | Securities: debts: general points: satisfied by acquisition of property
From HM Revenue & Customs · Capital Gains Manual
TCGA92/S251 (3)
A creditor may accept property rather than cash in satisfaction of the debt. You have to consider a number of linked disposals/acquisitions.
The disposal of the property by the debtor, see CG53511.
The disposal of the debt by the creditor, see CG53512.
The acquisition of the property by the creditor, see CG53513.