Hi,
My friend is currently in the process of moving house and will have to buy out his friend who owns the apartment they jointly share as PPR.
He is buying a new house for circa €500k and will be using this as his PPR.
He will then be buying out his joint owner of the apt. They purchased the apt for €200k and it is now worth €250k. He intends to rent this out afterwards
Will he have to pay stamp duty on the buyout of the apartment? He has lived in it for 3 years
My friend is currently in the process of moving house and will have to buy out his friend who owns the apartment they jointly share as PPR.
He is buying a new house for circa €500k and will be using this as his PPR.
He will then be buying out his joint owner of the apt. They purchased the apt for €200k and it is now worth €250k. He intends to rent this out afterwards
Will he have to pay stamp duty on the buyout of the apartment? He has lived in it for 3 years