stamp duty for separating parents question, yes/no

[summersun]

hello all, is my solicitor correct, if we sell family home and divide proceeds of sale do both parents become eligible for first time buyers status with next purchase?

i am aware of the different option where one parent relinquishing interest in family home become a first time buyer,

many thanks in advance for any views

 

[monkeyboy]

hello all, is my solicitor correct, if we sell family home and divide proceeds of sale do both parents become eligible for first time buyers status with next purchase?

i am aware of the different option where one parent relinquishing interest in family home become a first time buyer,

many thanks in advance for any views

If they are divorcing, yes I believe.....

 

[dereko1969]

post deleted

 

[summersun]

in a judicial separation under court orders, which is de facto divorce in the teeth of the cuddly celtic tiger

 

[Husssy]

Hi Summer sun,

My separation came through before christmas, we are sale agreed on our house and as far as I am aware my ex and I are not considered first time buyers, think this occurs only when one leaves the family home and spouse remains. hopefully Im wrong

 

[mf1]

Hussy is correct - the terms are quite specific

This is from Revenue website




Are there any special situations where a person who is not a first time buyer can avail of first time buyer relief?


Yes. There are two particular situations where a person is deemed to be a first time buyer.
(a) The trustees of a trust (to which section 189A of the Taxes Consolidation Act 1997 applies), whose trust funds are raised by public subscriptions for the benefit of permanently incapacitated persons, in respect of the first house(s) bought after the establishment of the trust, for occupation by the beneficiary or if more than one, each of the beneficiaries.

(b) A spouse to a marriage the subject of a decree of judicial separation, a deed of separation, a decree of divorce or a decree of nullity in the case of the first acquisition of a house by the spouse following the separation or divorce provided that the spouse had, in relation to the former marital home,
• left that home;
• not retained an interest in that home;
• Immediately prior to the date of the decree of deed of separation is not beneficially entitled to an interest in a house other than the marital home;
At the date of the decree or deed of separation, the separated/former spouse must also be in occupation of the home which was occupied by both spouses prior to the separation or dissolution of marriage.


mf

 

[efm]

As far as I am aware the Revenue state that if you are receiving proceeds of a sale of the family home, post separation / divorce, then you are "retaining an interest in that home" and so are ineligible for First Time Buyers status.