IHTM25364 - Lifetime transfers - additional conditions: Continuing ownership

The requirement in the first condition is that the transferee (IHTM25367) has owned the original property throughout the period from the date of transfer to the death of the transferor, IHTA84/S113A(3)(a) or the earlier death of the transferee, IHTA84/S113A(4).

This original asset requirement is relaxed by the replacement property (IHTM25369) provisions, and you need to consider carefully whether the original transferee has retained the asset.