# No limit for FTB on Stamp Duty, even for house overlooking Killiney Bay.



## Towger (15 Jun 2007)

With FF's new rules, how does this scenario sound:

Divorce Wife,
Give existing house to ex wife,
Regain FTB Status,
Buy a nice house overlooking Killiney Bay, http://www.fionasplace.net/killineybay.html
Remarry the ex-Wife.
Live happily ever after, well apart from the odd argument with popstar neighbors on widening the road etc.

Is it worth it to save a million + on Stamp Duty?

Towger


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## AppleSun (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*

have ya got ur deposit saved up for the killiney house  ?


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## Towger (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*

Nope, but I am sure a sub prime lender will be willing to give me a 100% mortage.


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## ClubMan (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*



Towger said:


> With FF's new rules, how does this scenario sound:
> 
> Divorce Wife


Bit harsh just to save a few bob on tax?


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## Markjbloggs (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*

Could this law be considered unconstitutional, as it incentivises people to divorce and is at the expense of the family which the constitution is supposed to protect?

Older members will remember an income tax case along similar lines.....


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## Hel_n (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*



Towger said:


> Nope, but I am sure a sub prime lender will be willing to give me a 100% mortage.


 
Sub prime lenders don't offer 100% mortgages.  As you previously owned a house you won't qualify for 100% finance with any other lender either...


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## Towger (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*



ClubMan said:


> Bit harsh just to save a few bob on tax?



Looks like I can get a way with a Separation, I has thinking of a cheep DIY divorce http://www.diydivorce.ie/ , [broken link removed] or maybe splash out on the luxury €500 option http://www.irishdivorceservices.com

http://www.citizensinformation.ie/c...ation_or_divorce/?searchterm=first time buyer

First-time buyers are charged the lowest rate of tax. Spouses who are separated or divorced are entitled to be treated as first-time buyers if they meet the following conditions:

They are separated or divorced under a court order 
This is the first property they have purchased since leaving the family home 
The party purchasing has left the family home and retained no interest in it 
The other party has remained in the family home. 

It looks like "This is the first property they have purchased since leaving the family home" will stop a lot of people using this loop hole.



> Sub prime lenders don't offer 100% mortgages



OK. So maybe one of the other banks will take some of my Bulgarian Property with guaranteed rental income as collateral. http://www.bulgarianproperties.com/guaranteed_rental.htm !?!


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## triona (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*

There was an article in yesterday's Irish Times' property section by a lawyer explaining this issue.


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## Jaid79 (15 Jun 2007)

*Re: No limit for FTB on Stamp Duty, even for if house overlooking Killiney Bay.*



triona said:


> There was an article in yesterday's Irish Times' property section by a lawyer explaining this issue.


 
I didnt buy the paper how do I get my hands on this artical?


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## ClubMan (15 Jun 2007)

Subscribe to the _IT _online to access the archives or call them/drop in and request a back issue?


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## Jaid79 (16 Jun 2007)

ClubMan said:


> Subscribe to the _IT _online to access the archives or call them/drop in and request a back issue?


 
Clubman.

Thank you,

Jaid


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## Bronte (18 Jun 2007)

Have already discussed this with husband as stamp duty rates are now so high and kick in earlier as even the cheapest houses are subject to stamp duty.  We'll transfer house to one of us, divorce/legally separate, buy new house and get remarried.  Have a remarriage party using part of the stamp duty savings and give ourselves the honeymoon we couldn't afford when we originally got married.  Seriously did discuss this with my other half.  It's a significant amount of money.  

Is there a catch to this new law?  Seems unduly unfair to married people.   

Another scenario, before we remarry can the person in the original house (family home) also go buy a property without stamp duty?  What about a divorce where the family home is valuable and has to be sold so both parties can have a home?

Towger - Don't see how the requirement that it's the first property purchased since leaving the family home will stop people using the loop hole.


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## Towger (18 Jun 2007)

Aileen2 said:


> What about a divorce where the family home is valuable and has to be sold so both parties can have a home?
> 
> Towger - Don't see how the requirement that it's the first property purchased since leaving the family home will stop people using the loop hole.



You don't have to sell the home in a divorce. Your poor hard pressed husband can just give it to you, so you can raise the children without the disruption of moving house. He’ll just have to make do in a damp and smelly bedsit.!

The first and only time I have seen the requirement for the family house being the 1st house was on the www.citizensinformation.ie site, but if it is anything like the Oasis site it replaced, I would not take everything on it as gospel.


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## Glenbhoy (19 Jun 2007)

Just don't get that lad from RTE's Brides of Franc (? or whatever it was) to organise the remarriage - might end up costing a few bob overall!!


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## shnaek (19 Jun 2007)

Could you buy a place for a wealthy investor and get them to split the savings with you? One could make a handy few bob on a scheme like that!


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