Amendment status not verified — confirm the current text below against the official source.
Direction as to duty in case of certain conveyances.—Where any property has been contracted to be sold for one consideration for the whole, anc is conveyed to the purchaser in separate parts by different instruments, the consideration shall be apportioned in such manner as the parties think fit. '[Provided that a distinct consideration for or the market value of each separate part are set forth in the conveyance relating thereto and such conveyance shall be chargeable with ad valorem duly in respect of the distinct consideration for or the market value of each such part whichever is higher]. (2) Where property contracted to be purchased for one consideration for the whole, by two or more persons jointly, or by any person for himself and others, or wholly for others, is conveyed in parts by separate instruments to the persons by or for whorn the same was purchased, for distinct part of the consideration, the conveyance of each separale part shall be chargeable with ad valorem duty in respect of distinct part of the consideration therein specified. '[or the market value of Such separate part, whichever is higher.] (3)Where a person, having contracted for the purchase of any property but not