Where a person ("E") is beneficially entitled to an interest in possession in settled property ("the successor interest"), that interest is a transitional serial interest for the purposes of this Chapter if the following conditions are met.
Condition 1 is that—
the settlement commenced before 22nd March 2006, and
immediately before 22nd March 2006, the property then comprised in the settlement was property in which a person other than E was beneficially entitled to an interest in possession ("the previous interest").
Condition 2 is that the previous interest came to an end on or after 6th October 2008 on the death of that other person ("F").
Condition 3 is that, immediately before F died, F was the spouse or civil partner of E.
Condition 4 is that E became beneficially entitled to the successor interest on F's death.
Condition 5 is that—
section 71A below does not apply to the property in which the successor interest subsists, and
the successor interest is not a disabled person's interest.