Gifting a site?

S

suzie

Registered User
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502
Hi all,

Just looking for guidance on what tasks I need to take on for the following:

Basically I am looking to be gifted a site with a derelict farmhouse from my aunt which I hope to restore and use. So my question is how this should proceed:

1) Who (is qualified) to establish the exact boundaries of the site? Does it need to be somebody qualified?

2) Then who establishes the value of the site/house? Estate agent or some other form of property evaluator? Does the revenue give guidelines for this?

3) Once I have these done I guess it makes sense for me to consult with a tax consultant for advice

4) Then I need to engage with solicitors. My aunt has her own, but would it be advisable to use another solicitor for my side of the transaction? I ask as I'll probably have to incur the entire cost.

I've many more questions, but if I can firstly understand the flow of tasks and responsibilities I can get cracking on with them and revert back with more specific question if needed?

Thanks
S.
 
1. An engineer or arch tech or such.

2. Estate agent or valuer.

3.Your solicitor will give advice on tax for you, your aunts solicitor will advise her- there are three potential taxes here, CGT for her, CAT and stamp duty for you.

4. You will both need to be independently advised, yes.
 
1) depends on who your solicitor will accept.

ONQ

[broken link removed]

All advice on AAM is remote from the situation and cannot be relied upon as a defence or support - in and of itself - should legal action be taken.
Competent legal and building professionals should be asked to advise in Real Life with rights to inspect and issue reports on the matters at hand.
 
Vanilla said:
1. An engineer or arch tech or such.

2. Estate agent or valuer.

3.Your solicitor will give advice on tax for you, your aunts solicitor will advise her- there are three potential taxes here, CGT for her, CAT and stamp duty for you.

4. You will both need to be independently advised, yes.
Click to expand...

I agree with the above.

The septic tank, percolation area & well will need to be within the confines of your site. I seem to remember that once the site is under an acre there are less taxes. Ask your Solicitor about this.
 
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