s 314 Obtaining and disposing of property
(1) References to a person disposing of his property include a reference— (a) to his disposing of a part of it, or (b) to his granting an interest in it, (or to both); and references to the property disposed of are to any property obtained on the disposal. (2) A person who makes a payment to another is to be treated as making a disposal of his property to the other, whatever form the payment takes. (3) Where a person’s property passes to another under a will or intestacy or by operation of law, it is to be treated as disposed of by him to the other. (4) A person is only to be treated as having obtained his property for value in a case where he gave unexecuted consideration if the consideration has become executed consideration.