IHTM27092 - Foreign property: debts: debts in Scotland

In Scotland, the rule that a debt is situated where the debtor resides applies to both specialty debts (IHTM27079) and to those due on simple contract. For Inheritance Tax purposes debts due from people or companies who are resident or based in Scotland are regarded as situated there.

The guidance on this page relates to specialty debts generally. It covers, for example, mortgages under seal, policies under seal, and covenant debts, and also applies to debts due from the Crown, or due under a statute.