Transfer of deeds

F

Flano

Guest
My mother died a few years ago leaving everything to her husband (my step-father) I know longer am friendly with him but he has agreed to transfer the deeds of the home house to the names of my sibling and I (due to other factors, I can guarantee he will do it!) but what I'm wondering is how long should it take, how much taxes etc will have to be paid (hse is worth circa €4ook) and as soon as transfer is completed can the house be sold immediately/ Any replies greatly appreciated!
 
Stamp duty will probably be an issue - see this thread for a similar situation and will depend on whether you are receiving the property as an investor or owner occupier. There may be [broken link removed] issues (for the donor) and/or [broken link removed] issues (for the recipients) too.
 
You need proper and detailed legal advice here;

Various scenarios may apply; the "perfect" scenario is if the house is still in your mother's name, if she left no other real property, and if you and your sibling are her only children. Then, your step father could simply disclaim his inheritance and it would pass by default to the two of you. No stamp duty, no C.A.T. (unless you guys inherited other stuff from parents);


It is very important to get proper advice; if you haven't already spoken to your own solicitor, do so without further delay
 
Sorry - I should have also mentioned the need to seek legal advice but was concentrating on the tax and related issues. :eek:
 
Thanks for your help folks, knew we'd have to get legal advice but was hoping it might be just easy and straight-forward for us!!! Will post any developments!
 
I know it's been a long time but the sale of house just went through and our stepfather gifted us €195k each from sale - as it was a one time gift from a parent, no tax etc had to be paid so it was just a stright forward procedure Thank God! Got the cheque, lodged it stright into account and didn't even have to declare it, we got everything checked out via our solicitor.
 
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