Transfering morgage deeds to co-owner - what stamp duty is due?

spidermofo

I am one of the lucky ones who actually convinced a bank in this day and age to let myself off a co-owned mortgage due to my co-owners good financal standing. Five rejections with te bank constanlty making things difficult /raising the bar and 2 years in the making. :mad:

As much as it kills me to think of paying stamp duty again on the same property (another government shakedown) can anyone tell me how much stamp duty is paid on transfering the deeds over? Outstanding balance is 240000 odd.... is it 1% of 120000...or 1% of 240000...or i also heard it could be 2% of 120000 which is a lovely way of disguising the 1% of 240000!

Cheers

Victor

Make sure you all have separate legal advice. A straightforward consultation should be available for €100-300.

Your relationship to the co-owner may be relevant. If married, there might be no stamp duty due, but you would need to check with a solicitor.

As I understand it, it would be 1% of the value of your share of the property at market value (not the value of the mortgage).

Have a read here: http://www.citizensinformation.ie/en/housing/owning_a_home/buying_a_home/stamp_duty.html and discuss it with your solicitor.

spidermofo

Cheers for that il look into it.

BTW the house was bought by me and my mate... an investment gone wrong so maybe the cohabitant route is the way to proceed ..ie no stamp duty