D
dwayneburke
Guest
Hi
In a situation whereby myself and my girlfriend are buying MY PARENTS home.
I already have property which i am owner occupier, and it is currently up for sale. My parents house is going for circa €375000. I know that if both patries were to appear on the deeds i would not get the Family/relation benefit of 50% off the stamp duty i.e. from 6% to 3%. I have a few options open to me
In a situation whereby myself and my girlfriend are buying MY PARENTS home.
I already have property which i am owner occupier, and it is currently up for sale. My parents house is going for circa €375000. I know that if both patries were to appear on the deeds i would not get the Family/relation benefit of 50% off the stamp duty i.e. from 6% to 3%. I have a few options open to me
- I buy the house off my parents myself and only my name appears on the deeds (which my partner is not too happy about as she doesnt have security understandably enough)
- We both buy the house together and take the 6% hit
- The accountant queried if it is possible to split the cost of the house in half i.e. my girlfirend buy her share for €187500 and she would be regarded as a FTB paying no tax. And on my €187500 i would pay 1.5% tax or 3% whatever the case maybe (DONT KNOW IF THIS IS POSSIBLE BUT CHECKING IT OUT)
- I apply for the mortgage along with my father leaving her out of it and i get the house for 3%. I would also create a (separate legal agreement) that she would at least be entitled to whatever she put into the house if the reltionship turned sour. I.E. i would be liable and not the house.