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adding a person to house deed

  • 16-01-2016 5:40pm
    #1
    doctorchopper
    Registered Users, Registered Users 2 Posts: 889 ✭✭✭


    Anyone know if it possible to add a person to a house deed? The short of it is, myself and partner (not married) have a house together but mortgage and house is only in her name, 3 years remaining on mortgage. We have wills and all that sorted leaving me the house if anything were to happen to her but we are worried about inheritance tax for myself as its solely in her name. Any suggestions on how to proceed?


Comments

  • #2
    jlm29
    Registered Users, Registered Users 2 Posts: 3,818 ✭✭✭jlm29


    doctorchopper wrote: »
    Anyone know if it possible to add a person to a house deed? The short of it is, myself and partner (not married) have a house together but mortgage and house is only in her name, 3 years remaining on mortgage. We have wills and all that sorted leaving me the house if anything were to happen to her but we are worried about inheritance tax for myself as its solely in her name. Any suggestions on how to proceed?

    I might be mistaken, but I'm pretty sure you will have to pay capital gains if you acquire half the house now!


  • #3
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,295 ✭✭✭✭Mrs OBumble


    doctorchopper wrote: »
    Any suggestions on how to proceed?


    Get married.

    No need for white, parties, invitations etc. Just three months notice, and a trip to the registry office.

    'Tis the only way to avoid tax on the transaction one way or another.


  • #4
    4ensic15
    Banned (with Prison Access) Posts: 4,691 ✭✭✭4ensic15


    jlm29 wrote: »
    I might be mistaken, but I'm pretty sure you will have to pay capital gains if you acquire half the house now!

    A person purchasing a property can never have to pay Capital Gains Tax! A person gifted a property may have to pay Capital Acquisitions Tax. The o/p should consult an estate planner to find the most tax efficient way of having an interest transferred to him. If he pays the remaining mortgage repayments he could acquire equity without receiving a gift.


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