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House swap

  • 23-11-2017 8:21pm
    #1
    rodneyr1981
    Registered Users, Registered Users 2 Posts: 540 ✭✭✭


    Hi,

    Looking for a little guidance if anyone has some experience.
    I'm looking into doing a house swap with my parents on their investment property. Both houses roughly same value however ours more suited to rental market due to location and theirs more suited as family home.
    They don't have any debt on theirs but I obviously have on mine.
    Is there some sort of option to maybe hold onto deeds but lease house to each other ones proper contracts drawn up?
    Want to avoid getting caught up in big tax bills etc.
    I'm sure it's not straight forward but any advice appreciated. Thanks


Comments

  • #2
    DubCount
    Registered Users, Registered Users 2 Posts: 1,094 ✭✭✭DubCount


    I dont think this is straightforward. If there is an actual transfer of ownership, it would mean a CGT liability for your parents as its not their PPR. Letting the property to each other could mean imputed rental income as the parties are related. I think you need to chat to an Accountant.


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