O
obj
Guest
My mother bought a property a few years ago as one of her parents was living there, it used to be the family home which was rented to them for years. The parent was also using adjoing property as a garden to pass away the time. This property was also purchased by my mother in the 70's. As time has passed so has her parents and the property is currently idle. The local authority last year wrote to my mother to enquire what she was going to do with it under the derilict buildings act. We are not too sure what to do with it so we are concidering selling it so that somebody can realize the potiental of it. We estimate the value to be around €1m as is.
Should my mother sell the two properties can she reinvest the money gained from selling it into a house or two and defer the capital gains tax or is this a waste of time?
Her plan at the moment would be to sell the properties and purchase two houses, one for myself and one for my sister and depending on the capital raised by the sale an investment house for herself.
Thanking you in advance for you help.
OBJ.
Should my mother sell the two properties can she reinvest the money gained from selling it into a house or two and defer the capital gains tax or is this a waste of time?
Her plan at the moment would be to sell the properties and purchase two houses, one for myself and one for my sister and depending on the capital raised by the sale an investment house for herself.
Thanking you in advance for you help.
OBJ.
