avoid stamp duty by lettting daughter buy house

[new investor]

Hi thinking of buying 2nd home in cork, 1 as an investment 2 as residence for my two daughters studing in cork as opposed to paying wasted rent for them
Is it possible for them to buy the house and me pay the morgage as such so they are the owners to avoid the stamp duty. My present house has no morgage as such left on it. what would be the best way to go about this to minimise any stamp duty etc. Gift them the house, remorgage present home gift them the cash any suggestions welcome

 

[jhegarty]

Hi thinking of buying 2nd home in cork, 1 as an investment 2 as residence for my two daughters studing in cork as opposed to paying wasted rent for them
Is it possible for them to buy the house and me pay the morgage as such so they are the owners to avoid the stamp duty. My present house has no morgage as such left on it. what would be the best way to go about this to minimise any stamp duty etc. Gift them the house, remorgage present home gift them the cash any suggestions welcome

all sounds fine to me... except they would own the house , and you would have no claim to it...

no that doesn't sounds like a problem ,but things change , e.g. if one of them get married in a few years...

 

[Gabriel]

It might be possible to draw up some form of legal document to show that you own x % of the property. Talk to your solicitor...he or she will know the best course of action.