Wilma is tenant of a dwelling held under a 150 year long residential lease which has a term of 80 years remaining. She uses this dwelling as her main residence. She decides to purchase a flat in Fife to use as a holiday home.
At the end of the day that is the effective date of the transaction, it is deemed that Wilma owns two dwellings and has not sold a previous main residence. She is deemed to be the owner of the dwelling for which she is tenant as the lease for this dwelling was for a term of more than 20 years and she also owns a holiday home. As a result, the ADS will apply.