Definition of a first time buyer

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boris

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Would anyone know what are the regulations regarding the definition of a first time buyer. I am specifically thinking of the case of a widowed person whose spouse would have had the house in their name prior to passing away and the widowed person then inherited it.

If the widowed person then went to buy their own place would they be considered a first time buyer. They would have no connection at all in the purchase of the original property

With the political parties promising all in this election it would be nice to know if there is something in the offing :rolleyes:
 
"Can I avail of first time buyer relief if I have previously inherited a house?

Yes. An inheritance is not regarded as a previous purchase and the first time buyer relief can be claimed provided all other conditions of the relief are satisfied. "

From Revenue website - its worth looking at definitions of f.t.b.'s to see if meet all other conditions.

mf
 
Thanks for that MF1.

Seems to provide some info. To be honest I should have tried the Revenue site before this but have found that the site is extremely bewildering. I know Revenue personnel who have agreed with me on this.
 
A first time buyer is a person who has not previously built or purchased a house in Ireland or abroad for their own occupation (i.e. to live in themselves) e.g. if you had purchased a house and had it rented out then you would not be considered as a first time buyer
 
cant understand how someone who had their own house built, and paid for without needing a mortgage.never having claimed mortgage relief would not be classed as a ftb for stamp duty purposes as the link suggests
 
seantheman said:
cant understand how someone who had their own house built, and paid for without needing a mortgage.never having claimed mortgage relief would not be classed as a ftb for stamp duty purposes as the link suggests
Click to expand...
The FTB benefits are aimed to assist people to gain a first step on the property ladder. If someone was in a position to build a home then seems fair, to me at least, that they no longer get all of the benefits on offer to assist the real "first time" property owners.
Technically the title is a little off, but the aim is fairly clear.


As for the defination of a FTB, it totally depends on the context (SD/CGT etc).
Mf1 summed up the details (I ain't giving the credit to Revenue ;)) relating to the OP's query (re inheritance).
 
I have a similar query about a relation - and I can't find an answer on the Revenue site.

House was originally only in name of husband but later changed to joint names with his wife.

Husband died recently and wife is now sole owner of house.

She wants to sell and buy a smaller home.

I can't see any possible way that she could be categorised as a FTB, but some advice she has received suggests otherwise. Any opinions? Thanks.
 
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