M
MrsP80
Guest
Hi, hoping this is in the right forum, first time posting here but long time viewing & using the advise 
My husband parents transfered a site to him about 10 yrs ago for him to build our home on which he did. There is a site next door to us which was originally for their other son but he decided he did not want to live there. So we decided to buy the site from him to help us/our kids in later years!! The facts are:
The new site is still in mother in law's name.
We paid the brother €50k about 2yrs ago with the agreement that once planning permission is got (in his name) we would pay another €50k.
Planning permission was got last month so we now have to find the remaining monies owed which we will eventually.
So my query is does anyone know what is the best way to get the site in to our name without us or hubby's family paying much Capital gains tax or similiar? My mother in law has been advised that if we sign an occupancy agreement on the site, then she can transfer over the site directly to us leaving out the brother altogether (bearing in mind the planning permission was got in his name). My worry is that we want to prove that we are paying this €100k to someone as we dont want to be liable for taxes if we ever sell the house we build on the site.
My husband parents transfered a site to him about 10 yrs ago for him to build our home on which he did. There is a site next door to us which was originally for their other son but he decided he did not want to live there. So we decided to buy the site from him to help us/our kids in later years!! The facts are:
The new site is still in mother in law's name.
We paid the brother €50k about 2yrs ago with the agreement that once planning permission is got (in his name) we would pay another €50k.
Planning permission was got last month so we now have to find the remaining monies owed which we will eventually.
So my query is does anyone know what is the best way to get the site in to our name without us or hubby's family paying much Capital gains tax or similiar? My mother in law has been advised that if we sign an occupancy agreement on the site, then she can transfer over the site directly to us leaving out the brother altogether (bearing in mind the planning permission was got in his name). My worry is that we want to prove that we are paying this €100k to someone as we dont want to be liable for taxes if we ever sell the house we build on the site.