Hi,
Below is my understanding, and shouldn't be treated as Tax advice.
Unfortunately there are tax implications here. I'll go through what you've laid out, and maybe someone else could suggest a different way to approach. Currently the only real way of passing a house to a child is on your death, if it was your principal residence, and the child has lived there and retains it for a period after inheritance.
Firstly on your side:
If the value of the property has increased since you purchased / inherited it, you will be liable for Capital Gains Tax (CGT) on the increase in value / amount paid. Even though you are gifting it, Revenue will deem that you have disposed of the property at market value.
On the Transfer, your daughter will have to pay Stamp Duty, again based on the market value.
From a Capital Acquisitions Tax (CAT, or Gift Tax) standpoint, your daughter can receive up to 310k tax free from 'Group A' disponers. This was increased from 280k in the last budget, and is a political hot point at the moment as most individuals who inherit family homes are caught paying tax, but whether it's worth waiting to see if there are any increases in the budget again this year is another question (it was 540k up to 2009). This is a lifetime limit, so any future inheritances from a 'Group A' disponer would be subject to CAT.
The current rate of CAT is 33%.
It is very important that you transfer the house to your daughter only. If you transfer it 50:50 to her and her partner/spouse, the partner is in 'Group C' so will pay CAT on the value above 16k.
If your daughter later sells of the house, so long as it is her Principal Private Residence, she will be able to benefit from relief from CGT on any increase in value.
Alternative:
If the house is not in an area your daughter wants to live, you might be better off selling it and gifting / loaning her the money to buy a house where she wants (and you'll have funds to pay your own CGT liability, if any). You will still have to pay CGT yourself on any gain, and she will pay stamp duty on a purchase. There may be easier ways to structure a loan without triggering a CAT liability on your daughters part.