Great Britain is the island comprising England, Scotland, and Wales, and the political entity whose government drove the Revestment of 1765. The relationship between Great Britain and the Isle of Man is defined by the Island's status as a Crown Dependency, neither part of the United Kingdom nor a colony, but possessing its own parliament, laws, and traditions.

The purchase was made in the currency of the new state. The contract of 7 March 1765 provided for seventy thousand pounds of lawful money of Great Britain to be paid into the Bank of England, free and clear of all taxes, impositions, fees and other deductions, whereupon the Island should vest unalienably in the Crown.

The constitutional question has never been finally settled. Sir James Gell as Attorney-General had to answer an opinion of the English Law Officers that the Insular Legislature could not legislate on a matter touching Crown rights without an Act of the Imperial Parliament, and he answered it from the precedents of insular legislation. A modern constitutional writer, arguing that Manx emancipation still falls short of independence, holds that the sovereign takes the Island not by descent from the Norse kings but as heir of Henry IV of England, and that the subordinate lordships of the Percys, Stanleys and Murrays are beside the point. That is one view among several and the argument continues.