Executors have paid inheritance tax in respecct of property that was subject of a joint tenancy. The executors seek reimubrsement from the surviving joint tenant. Section 211(3) inheritance tax act provides statutory indemnity (wording of section below) but the joint tenant is refusing to pay. Does anyone happen to know whether this statutory indemnity is analagous to indemnity under s31(1) Trustee Act 2000 - giving the executors a proprietary right against the joint tenant?
s 211(3) inheritance tax act: Where any amount of tax paid by personal representatives on the value transferred by a chargeable transfer made on death does not fall to be borne as part of the general testamentary and administration expenses of the estate, that amount shall, where occasion requires, be repaid to them by the person in whom the property to the value of which the tax is attributable is vested