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Stamp Duty Query

  • 14-03-2017 12:17pm
    #1
    monseiur
    Registered Users, Registered Users 2 Posts: 1,416 ✭✭✭


    Hi

    Not a farming question but I notice that you guys on here have a broad breath of knowledge so may be able to help.
    The sister in law borrowed some money off her brother some years ago (about €35k)
    Recently her uncle willed her a plot of land with a semi derelict house. As this site is adjoining her brother's farm and he is planning to build a new house etc. this site would suit him so she wants to sign it over to him in lieu of the money she owes him, in other words she will be gifting the site to him.
    So basically the question is, will her brother be liable for Stamp Duty or any other taxes following this transaction ?
    Thanks,
    M.


Comments

  • #2
    lakill Farm
    Registered Users, Registered Users 2 Posts: 4,735 ✭✭✭lakill Farm


    monseiur wrote: »
    Hi

    Not a farming question but I notice that you guys on here have a broad breath of knowledge so may be able to help.
    The sister in law borrowed some money off her brother some years ago (about €35k)
    Recently her uncle willed her a plot of land with a semi derelict house. As this site is adjoining her brother's farm and he is planning to build a new house etc. this site would suit him so she wants to sign it over to him in lieu of the money she owes him, in other words she will be gifting the site to him.
    So basically the question is, will her brother be liable for Stamp Duty or any other taxes following this transaction ?
    Thanks,
    M.

    whats the value of the plot of land with derelict house


  • #3
    monseiur
    Registered Users, Registered Users 2 Posts: 1,416 ✭✭✭monseiur


    lakill Farm wrote: »
    whats the value of the plot of land with derelict house
    Hi Lakill,
    To the best of my knowledge she did not get it valued but I'd guess €40 to €50k max. (due to it's specific location etc.)


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