Legal costs of transferring agricultural property from a parent to son/daughter?

Hi,
just wondering does anyone here know what the costs of transferring property from a parent to son/daughter are. I presume it goes on a % of the value of property. I will have to consult a solicitor just wondering if there is anyone out there who has gone thru this already.

Re: Legal costs of property transfer.

It depends.

Are all outstanding title issues in order? Are there any planning or tax problems? Will there be CGT, CAt and Stamp Duty issues? Is it the transfer of a site,a farm, a house, a pub, a hotel..........? Will the transferee be mortgaging the property?

In many ways its exactly the same as buying a property. Very few solicitors operate on a % basis anymore so once you have a clear idea of what precisely is involved in the process, you can call a few recommended people and ask for a quote.

mf

Re: Legal costs of property transfer.

Hi mf thanks for your reply, its agricultural property i have looked into the taxation issues and am aware of these and transfer can be done tax free tax reliefs at present and due to ages of both parties and qualifications etc. all land deeds are in order, would be valued at about 600k.

The fee can vary. if it is one piece of property then the fee can be as low as 1100 plus vat (21%). You will need to get a valuation for revenue purposes (can cost 200 euro). The land registry fee on a voluntary transfer is 85 euro. There are a few declaration to be sworn (50 euro). As you are receiving property from your parents, you will need one solicitor to do the transfer but another one should be used to independently advise the other party (200-300 euro) so that they can never come back claiming that they were under duress to sign over the land, etc or that the main solicitor was in cahoots with you to get the land signed over.