Selling our PPR to purchase deceased mams house. CAT for me or my partner?

[Pepsi cola]

Myself and my partner own our house equally and have sold it to buy my two siblings out of their share of my my mams house, which was left to all three of us.We have no mortgage and can pay equal amounts to purchase the house. Will either of us have to pay CAT as we are not married but have 50/50 funds to purchase?CGT is already been accounted for.

 

[Gordon Gekko]

In theory, yes, but in practice no. Your partner’s getting 50% of a property in exchange for a payment equal to 33% of its value. Personally I’d either ignore it, get married, or sell your partner the ‘missing’ 16.67% as part of the deal, writing-off €19,250 of the price, leaving the rest outstanding as a loan, and then using the €3,000 Small Gift Exemption to chip-away at the loan over time. You could always own the property as tenants-in-common with 2/3 and 1/3 ownership.