Selling Georgian House

[thefires]

Hi
I am an only child(27) with 1 parent(dad) ,His mother left him a georgian house in dublin city centre which my dad own`s 70% and his sister(my Auntie) ows`s say about 30%

they are currently going through court procedings to get the house sold,,,as she seems to be staling..(Civil Thing)

will my dad have to buy out my sisters percent or joint sell it??is this possible?? also will there be inheritance tax from my dad to me if he passes away.

 

[Brendan Burgess]

Hi

Really, your dad's solicitor is the best person to advise on all this.

You can receive up to around €500k from your dad before paying any inheritance tax. The balance will be taxed at 20%. So if you get €2.5m, you will pay around €400k tax.

brendan

 

[asdfg]

will there be inheritance tax from my dad to me if he passes away.

You can receive just under 500,000 as inheritance from your father before paying tax @ 20%. In addition you can also receive 3000 p a without having to pay tax.