34 Agreements in connection with, or in contemplation of, sale.

[FA1986 s96(1)]

^[1]>Where,^{<[1] [1]>}Notwithstanding section 37, where,^<[1] in connection with, or in contemplation of, ^[2]>a sale of property,^{<[2] [2]>}a sale of property, or an exchange of property within the meaning of section 37, as the case may be,^{<[2] [3]>}the vendor^{<[3] [3]>}the vendor, or the transferor, as the case may be,^<[3] enters into—

(a) an agreement for the grant of a lease of the property for a term exceeding 35 years, or

(b) an agreement (other than a contract for the sale of the property) under which ^[3]>the vendor^{<[3] [3]>}the vendor, or the transferor, as the case may be,^<[3] grants any other rights in relation to the property,

any conveyance or transfer, subject to the agreement, of the property by ^[3]>the vendor^{<[3] [3]>}the vendor, or the transferor, as the case may be,^<[3] shall be charged to stamp duty as a conveyance or transfer on sale of the property for a consideration equal to the value of the property and the value shall be determined without regard to the agreement.