Taking ex name off the house

[Kevin Masden]

hi

I have broken up with my ex and we had a house, she doesn't want anything to do with it, I called into my solicitor and explained my situation.

So I have a new mortgage agreed in my own name but my solicitor said I'll have to pay tax as in the eyes of the government I'm getting a gift of 130k (house is worth 260k)

Is this correct?

 

[Brendan Burgess]

You are buying a new house worth €130k , so you will have to pay 1% stamp duty on it, or €1,300.

You are not getting a gift of €130k. But if there is a difference between the value of the house and the mortgage, you are getting a gift. If so, why is your ex is allowing you to take over the house and the mortgage without any compensation?

How much is the mortgage? Who paid the deposit on the house? Did you do an agreement before you bought the house? What share of the house does she own?

 

[Brendan Burgess]

OK, I see more information here:

I want her name off the mortgage but bank says I will lose my tracker

You have a mortgage of €150k on a house worth €260k.

But, more importantly, you are married. I am not an expert, but I don't think that gifts between married people are subject to CAT. I don't think the fact that you are separated matters.

I don't know if a person who buys a house from their wife pays stamp duty.

Please update the other thread on how you got on with the tracker.

Brendan