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transfer of property

  • 31-12-2014 1:37pm
    #1
    toffeekevin
    Registered Users, Registered Users 2 Posts: 1 ✭


    Daughter has been living in a second house I purchased in 2002. She has been there for circa 7 years with grandson rent free.

    I now wish to transfer ownership to her in the most tax efficient manner as I will soon need to avail of Fair Deal Nursing home scheme.

    Any suggestions ?


Comments

  • #2
    ucd.1985
    Registered Users, Registered Users 2 Posts: 867 ✭✭✭ucd.1985


    toffeekevin wrote: »
    Daughter has been living in a second house I purchased in 2002. She has been there for circa 7 years with grandson rent free.

    I now wish to transfer ownership to her in the most tax efficient manner as I will soon need to avail of Fair Deal Nursing home scheme.

    Any suggestions ?

    Should be entitled to dwelling house relief which would mean that no CAT (gift tax) should arise on the transfer of the property to her.


  • #3
    eamon11
    Site Banned Posts: 518 ✭✭✭eamon11


    Transferring might not make much difference concerning your calculated payments for the fair deal as when calculating your assets they go back 5 years and take offloaded assets from that date into account.


  • #4
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    Speak to a solicitor. Property advice is banned.


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