From Law wiki, the wiki for law research

A limited owner's charge is a rather rare equitable interest in land. It arises when a person who takes a Freeholdestate in land does so as the TenantForLife under asettled land act settlement. Because the tenant for life becomes the legal owner of the estate, the burden of inheritance tax falls on him or her, even though the tenant for life is only the owner for administrative convenience. In reality, the tenant for life is effectively (although not formally) a trustee for himself and his successors. The inheritance tax paid by the tenant for life can be recovered if the land is sold, but the right to do so must be registered as a Class C(ii)land charge if it is to be enforceable against the purchaser of the land.