Bought out of mortgage. Tax implications

MeathCommute

Registered User
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My fiancee bought a house with her brother in 2005. Both names were on the title deeds and they shared the mortgage payments equally. Mortgage taken out in 2005 was €360k approx. In 2007, they agreed that she would be bought out of the house, would stop mortgage payments and she would receive a lump sum for her share of the house, and her name taken off the title deeds. The house was valued at €420k prior to her being bought out and she received payment of €30k for her share of the equity in the house. This house was her principal private residence prior to her leaving it. Is there any tax implications e.g. CGT owing on the money she received ?
 
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