Ian is purchasing a dwelling as a buy-to-let property and is keeping his existing main residence. The sellers in his next main residence purchase transaction have a registered title to the dwelling as tenants under a 900 year long residential lease. This lease converted to ownership on 28 November 2015 as a result of the provisions of the Long Leases (Scotland) Act 2012.
At the end of the day that is the effective date of the transaction, Ian owns two dwellings, his existing main residence and the buy-to-let property which is no longer owned on a leasehold basis. As he has not sold a previous main residence, the ADS will apply