paddytheape
Registered User
- Messages
- 31
Hi all,
My mam wants and needs to downsize but we would like to hold onto family house if possible. I propose to take a mortgage to purchase the house and give my mam a lifelong tenancy with token minimum rent. She would cover her own day to day costs, plus bills. This would effectively be my summer house, ( I have my own PPR in Dublin, my mam lives in rural town) but my mother living here, another sibling would remain in family home (they have been living there with my mam these past 5 years) until we decide what to do with it. What are the tax implications to both my mother and me?. I've researched and googled this to death and am still no wiser.
My mam wants and needs to downsize but we would like to hold onto family house if possible. I propose to take a mortgage to purchase the house and give my mam a lifelong tenancy with token minimum rent. She would cover her own day to day costs, plus bills. This would effectively be my summer house, ( I have my own PPR in Dublin, my mam lives in rural town) but my mother living here, another sibling would remain in family home (they have been living there with my mam these past 5 years) until we decide what to do with it. What are the tax implications to both my mother and me?. I've researched and googled this to death and am still no wiser.