Lads, the following is an extract from the Revenue Commissioners manauals - I suspect that you will be ok if the site and house do not exceed €500,000 but I would get the site signed over before the budget. Get a good solicitor ASAP
"Transfer of a site to a child
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Section 83A of the SDCA.
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This section provides for an exemption from stamp duty where a parent transfers a site to a child for the purpose of that child building their principal place of residence.
The value of the site must not exceed €500,000 and the size, exclusive of the area that the dwellinghouse will be constructed on, must not exceed 1 acre.
The child does not need to be a First Time Buyer to avail of the relief but can only avail of it once.
Where relief under section 83A is claimed by a child on the transfer of a site from their parent, it will be regarded as having been properly claimed in circumstances where
• the site is subsequently transferred into the joint names of the child and his/her spouse or partner,
• the transfer into joint names is being effected in the context of the raising of funds from a financial institution for the purposes of the construction a house on the site and
• the house constructed on the site will be occupied by the child, in conjunction with his/her spouse or partner as their only or main residence
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