Just_Asking
New Member
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Hi all,
I have a question as follows:
My partner inherited a 1/6th share in her fathers house upon his death.
Probate valued the house at €240k, and my partner and I have decided and agreed with her family to buy the house at this valuation. As my partner has a 40k stake in the property, the purchase price will be 200k, of which we are contributing 100k and seeking a joint mortgage of 100k from the bank.
However, there has been a delay in conveyancing and the property has increased in value to 300k in the interim. This is the valuation which has gone to the bank as part of the mortgage application process. However, we will still be buying at the agreed 240k.
Our solicitor has indicated that if purchasing the property, I, as a third party to probate, may be liable for CAT on the latest valuation of 300k...
Is this likely to be the case?
I have a question as follows:
My partner inherited a 1/6th share in her fathers house upon his death.
Probate valued the house at €240k, and my partner and I have decided and agreed with her family to buy the house at this valuation. As my partner has a 40k stake in the property, the purchase price will be 200k, of which we are contributing 100k and seeking a joint mortgage of 100k from the bank.
However, there has been a delay in conveyancing and the property has increased in value to 300k in the interim. This is the valuation which has gone to the bank as part of the mortgage application process. However, we will still be buying at the agreed 240k.
Our solicitor has indicated that if purchasing the property, I, as a third party to probate, may be liable for CAT on the latest valuation of 300k...
Is this likely to be the case?