Words and Phrases - "vested indefeasiblyi"

a
91
b
44
c
86
d
57
e
43
f
31
g
20
h
15
i
77
j
2
k
2
l
32
m
60
n
29
o
41
p
82
q
3
r
78
s
96
t
48
u
16
v
11
w
23
y
2

17 June 2025 STEP Roundtable Q. 8, 2025-1054941C6 - Subsection 70(6) and Vested Indefeasibly

Summary Under
Tax Topics - Income Tax Act - Section 70 - Subsection 70(6)
a deceased’s property can vest indefeasibly in the surviving spouse notwithstanding that spouse’s death before probate

A predeceased A's surviving spouse (B). A’s will left A's assets to B provided that B survived A by more than 30 days. This occurred, but B died before A's will was probated, eight months after A's death. Even though there was no conveyance of the property of A to B, could s. 70(6) still apply?

CRA noted that s. 248(9.2) would deem the property to have not vested indefeasibly in B unless the property vested indefeasibly in B before the death of B. In order for s. 70(6) to apply, the property must have been transferred or distributed to B as a consequence of the death of A, and the property must have vested indefeasibly in B before B's death.

CRA indicated that the fact of B's death being before there was an actual distribution or transfer of legal title of the property, but after the 30-day requirement in the will was satisfied, would not by itself prevent the conditions of s. 70(6) from being met.

Words and Phrases
vested indefeasiblyi