Hi I can't seem to get my head around this on the revenue website. The following is my situation, a bit long:
2003: Boyfriend purchased first house, in receipt of TRS on mortgage
since
2004: I moved in with him, house remained in his name.
2005: I purchased a site in my name and am in receipt of TRS on
mortgage since
2007: We got married. Husbands house still in his name only (which is
primary residence for both), he's receiving TRS. Site still in my
name only, also in receipt of TRS.
On paper both of us are paying our own mortgages on our purchases and both receiving TRS on them. Should I even be receiving the relief when the site is obviously not my primanry residence (but soon will be as we are starting to build next year, hopefully!!). Is this situation the most beneficial to us or would it be better for the two of us to get TRS for primary residence and none for the site. Am confused about this and would like to be better informed before contacting revenue. House was purchased for approx €179,000 and site for €84,000.
2003: Boyfriend purchased first house, in receipt of TRS on mortgage
since
2004: I moved in with him, house remained in his name.
2005: I purchased a site in my name and am in receipt of TRS on
mortgage since
2007: We got married. Husbands house still in his name only (which is
primary residence for both), he's receiving TRS. Site still in my
name only, also in receipt of TRS.
On paper both of us are paying our own mortgages on our purchases and both receiving TRS on them. Should I even be receiving the relief when the site is obviously not my primanry residence (but soon will be as we are starting to build next year, hopefully!!). Is this situation the most beneficial to us or would it be better for the two of us to get TRS for primary residence and none for the site. Am confused about this and would like to be better informed before contacting revenue. House was purchased for approx €179,000 and site for €84,000.