First time buyer?

F

frasr

Registered User
Messages
19
I know the government is planning on stopping stamp duty for first time buyers, but I'm wondering will I be able to take advantage of this.
A few years ago I inherited a house in another city I don't live in, the house has been rented since, but planning/thinking of buying a house for myself.
Does this mean I'm not a first time buyer???
 
A friend of mine inherited a house from his dad about five years ago, with his girlfirend he later bought a new house and they did not have to pay satmp duty as they were considered first time buyers, deeds and mortgage in both names. I remember asking him if this was possible at the time and he said he was told it was as he has not bought the house from his dad.
It soounder a bit sus to me but there you go, no one has chased him for any stamp duty, so I guess he was right.
 
You are still a first time buyer according to Revenue.

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From Revenue website:

"Can I avail of first time buyer relief if I previously received a gift of a house? "

The relief can be claimed where the gift of the house was received prior to 22 June 2000 (or prior to 27 June 2000 in the case of part of a house). A gift received after the above date(s) is regarded as a prior purchase and would preclude a person from claiming the relief.

"Can I avail of first time buyer relief if I have previously inherited a house? "

Yes. An inheritance is not regarded as a previous purchase and the first time buyer relief can be claimed provided all other conditions of the relief are satisfied.

"Can the first time buyer relief apply to a gift of a house? "
Yes. A gift of a house is treated in the same manner as a purchase and the first time buyer relief can be claimed provided all other conditions of the relief are satisfied.

mf
 
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