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Gifting of a property

Dankarl · 2022-01-17 17:28:59

Hi, Looking for some guidance. My late grand mother passed away and I am to be gifted her house by my father. I plan to get a loan to pay out to other 2 people entitled to the house. What are the tax or stamp duty cost? What else should I consider

17-01-2022 5:28pm

#1

Dankarl

Registered Users, Registered Users 2 Posts: 38 ✭

Join Date: May 2020

Posts: 27

Hi,
Looking for some guidance. My late grand mother passed away and I am to be gifted her house by my father.

I plan to get a loan to pay out to other 2 people entitled to the house. What are the tax or stamp duty cost? What else should I consider

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Comments

#2 17-01-2022 5:49pm

Atlantic Dawn

Registered Users, Registered Users 2 Posts: 84,750 ✭✭✭✭

M

Join Date: January 2010

Posts: 84323

Get professional advice or it could become a mess.
Did she leave a will, was the home to be distributed evenly to your father and the 2 other people?
Have the 2 people entitled to the house agreed that they are happy to sell it?
So many variables but if everyone agreed the house should be valued, say it's worth €300k, your father gifts his share of the sale to you, you then buy out the other 2 for €200k (€100k each to them). Parents can gift a child €335k in their lifetime. Stamp duty is 1% up to a value of a million.

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