How do I get a dilapidated house into my name and registered for LPT?

A

aerobubbles

Registered User
Messages
52
Sorry if i'm not in the correct forum, but am looking for advice. My parents have an old house on their property, my dad was raised there and his parents lived there until they passed away in the late 70s. It wasn't registered for property tax as it was not fit to live in, i have recently moved home with my children and my parents have offered me the house if i can make it livable which i am certainly more than willing to do and most grateful for. It will need insulating and new windows doors and electrical works as well as good clean up.

I have no idea what we would need to do as regards getting the house in my name and registered for property tax and even getting the electrical account switched on again? be so glad of any advice
 
To get the house in your name your parents would need to transfer the property and garden to you . You also need to check if you need planning permission for any of the work you intend to carry out - probably not if it just windows and cleaning. You will not be liable for any property tax due on the property as you did not own it but your parents may be if they did not get it sorted with Revenue at the time.
 
Steps to take.

1. Parents instruct a solicitor to act for them to transfer the property to you.
Solicitor examines title and advises on the likely steps, costs, VAT and outlays involved in the transfer.
Advises them on likely taxes- e.g potential CGT on the disposal, requirement to provided NPPR Certificate of exemption, requirement to register for LPT.
Parents choose whether to go ahead or not.

2. You instruct a separate solicitor.
Solicitor examines title, when provided, and advises you on the the likely steps,costs, VAT and outlays involved in the transfer to you.
Advises you on likely taxes- e.g potential CAT on the acquisition, stamp duty on the transfer.

Depending on parents choice above, you decide whether to go ahead or not.

3. If both parties decide to go ahead, hand it all over to the solicitors.

4. Talk to a good builder(s) and get a quote for the likely works.

The electricity is the least of your worries- a quick call to any of the providers will point you in the right direction.

See this link as an example:

Restoring supply , Reconnection ; Restoring electricity supply,

restoring electricity supply , reconnection
www.esbnetworks.ie

mf
 
aerobubbles said:
It wasn't registered for property tax as it was not fit to live in,
Click to expand...
Was this agreed with Revenue, i.e. was an exemption from LPT obtained by your parents? Even if a property is derelict this does not mean it is not a residential property for tax purposes.
 
Thank you all for your replies, this looks like i am going to bring a whole heap of worry to my parents if i go ahead and thats the last thing i want /need right now.
 
There must be some way around it!! do plenty of research and you might come up with a solution. Good luck!!
 
Are you the only child in the family. You could just leave things as they are if you are going to inherit it eventually.
 
aerobubbles said:
Thank you all for your replies, this looks like i am going to bring a whole heap of worry to my parents if i go ahead and thats the last thing i want /need right now.
Click to expand...
No need for this if you do thing properly. As MF pointed out. And you can gift your parents the legal costs of a solicitor. You do all the running around. Seems crazy not to do it the right way if you’re getting a free house and site.
 
You must log in or register to reply here.
Back
Top