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House Swap with Parents

  • 07-03-2022 1:56pm
    #1
    Barrymc2006
    Registered Users, Registered Users 2 Posts: 1 ✭


    Myself and my wife are currently exploring the route of swapping houses with my wife's parents.

    • They have a large 4 bed semi with garage house worth approx €420,000 and the mortgage is paid off. It needs a lot of money to be spent on it(windows, doors, kitchen etc) to keep it liveable.
    • Our house is a 3 bed mid terrace A-rated and is worth approx €380,000 but is only 6 years old and we currently does have a mortgage.

    What taxes are we liable for in doing such a swap? Stamp duty, inheritance etc etc?

    Can we just swap houses and say nothing? They can live in my house and I move into their house and start upgrading the house etc and just continue to pay my mortgage on my 3bed as if nothing changed. Is this legally ok? Are we leaving ourselves exposed to any issue in the future, sudden tax bills or issues with the mortgage lender etc?

    My wife has 1 sibling who she has a great relationship with so we would make an agreement in writing at the start of how much she would be due from inheritance with regards to when both parents pass away in the future.



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