Buying out siblings share in a rental property

Lipsync said:
Hi Bronte, the current tenants are only on a 6 month lease in anticipation of us possibly selling so that part should be okay.
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Make sure they are out before it gets to 6 months. That's the point at which they gain Part 4 rights.
 
Greenbook said:
Sorry, I didn't ask the question properly. Are you saying that if I say join the HSE in 2024 aged 45, I can 'buy' a pension for the years I wasn't working there eg. from aged 18 to 44 so that when I retire I get a full HSE pension?
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You may be able to purchase what's called "notional service" which will increase your retirement pension. See HERE
 
Lipsync said:
Hi Bronte, the current tenants are only on a 6 month lease in anticipation of us possibly selling so that part should be okay.
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Yep, sounds like it will be seemless. ‍ ‍ Famous last words.

How long are they currently there?
 

Brendan Burgess said:
You only have a tax bill because you are making a profit.



View attachment 9232
If you do buy out your sister, the tax bill would be lower as you would have much higher interest.

Brendan
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