Duties Act 2000

This section applies if—

a natural person and a financial institution enter into an arrangement described in section 57A, 57B, 57C or 57D; and

the financial institution transfers its estate in fee simple in land to another financial institution (the first transaction) on the condition that the other financial institution transfer its interest in the land to the natural person in compliance with the terms of the relevant arrangement; and

the other financial institution transfers its interest in the land to the natural person in compliance with the terms of the relevant arrangement (the second transaction).

No duty is chargeable under this Chapter in respect of the first or second transaction.