Section 8F | Residence nil-rate amount: no interest in home goes to descendants etc ^F1

(1)Subsections (2) and (3) apply if the person's estate immediately before the person's death—^F1

(a)does not include a qualifying residential interest, or^F1

(b)includes a qualifying residential interest but none of the interest is closely inherited.^F1

(2)The person's residence nil-rate amount is nil.^F1

(3)An amount—^F1

(a)equal to the person's default allowance, or^F1

(b)if E is greater than TT, equal to the person's adjusted allowance,^F1

is available for carry-forward.

(4)See also—^F1F2F3

section 8FD (which applies instead of this section where there is entitlement to a downsizing addition),

section 8H (meaning of “qualifying residential interest” , “qualifying former residential interest” and “residential property interest”),

section 8J (meaning of “inherit”),

section 8K (meaning of “closely inherited”), and

section 8M (cases involving conditional exemption).