Thurston owns two dwellings - a main residence and a buy-to-let property. He decides to purchase a further investment property in which he will grant a liferent interest to his mother, Kim. Kim currently owns a dwelling which is her main residence, but intends to sell this dwelling to free up capital, with the sale coinciding with the purchase of the new dwelling.
At the end of the day that is the effective date of the transaction, the ADS is not applicable as, despite the fact that Thurston owns more than one dwelling, he is not deemed to be the owner of the newly purchased dwelling. The owner of the newly purchased dwelling is deemed to be Kim ("deemed ownership").