Inherit a House - Are you first time buyer?

[legend99]

Don't ever remember seeing this one here before. Lets say you inherit a house at a young age. Does that mean that say 10 years later when you go to buy a house that you are not a first time buyer as you have a house with your name on the deeds? or are you first time buyer because as such you have never bought a house before???

 

[mf1]

Revenue do not regard an inheritance as a prior purchase and f.t.b. relief can be claimed on a purchase if all other conditions of relief are satisfied.

For gifts of a house or a part of a house, relief can be claimed if occurred before June 2000. After that date if you get a gift of a house or part, this will be regarded as a prior purchase.

mf

 

[legend99]

Revenue do not regard an inheritance as a prior purchase and f.t.b. relief can be claimed on a purchase if all other conditions of relief are satisfied.

For gifts of a house or a part of a house, relief can be claimed if occurred before June 2000. After that date if you get a gift of a house or part, this will be regarded as a prior purchase.

mf

thanks for the info...interesting one though I thought when someone asked me