Ircoha, there will be no transfer until mortgage is in place. I am just wondering with us paying them €150 a month into there account for a year, will it have any legal implications?
When your parents left you the house it was valued at 200.000. As it is not your main home it is an asset that can rise or fall in value. Once you sell the asset the value is established and any gain above 200,000 will be liable to CGT @33%. Each person owning the asset has an allowance of 1270 which helps to reduce the taxable amount.
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