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Property inheritance questions

Auvers · 2008-01-17 11:09:49

I have inherited a house and I have a couple of things I would like to know, if I put the house in my name will I have to pay the government any inheritance tax? will I loose my first time buyer status if I mortgage the house to pay for a deposit? thanks

17-01-2008 11:09am

#1

Auvers

Closed Accounts Posts: 2,987 ✭✭✭

Join Date: February 2005

Posts: 2815

I have inherited a house and I have a couple of things I would like to know, if I put the house in my name will I have to pay the government any inheritance tax?
will I loose my first time buyer status if I mortgage the house to pay for a deposit?

thanks

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Comments

#2 17-01-2008 11:43am

The_Conductor

Moderators, Society & Culture Moderators Posts: 32,286 Mod ✭✭✭✭

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Posts: 30621

An inheritance is not regarded as a previous purchase and the first time buyer relief can be claimed provided all other conditions of the relief are satisfied. There are no FTB status implications. Inheritance tax implications will depend on whether you are/were resident in the house in the period immediately preceding the inheritance (and for how long), along with the value of the property (and possibly other factors).

This link will help you further.

S.

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