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Gifting house to dependent relative

Vologda69 · 2023-03-22 22:29:12

I own a house with my brother 50/50. My father lives with us, hes retired, over 65. Brother is getting married later in the year, is quite well off, and moving abroad. Naturally I am concerned if his marriage doesn't work out, our home cud be at risk. He has suggested gifting his half to my father. I was worried about tax,…

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22-03-2023 11:29pm

#1

Vologda69

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Posts: 895

I own a house with my brother 50/50. My father lives with us, hes retired, over 65. Brother is getting married later in the year, is quite well off, and moving abroad. Naturally I am concerned if his marriage doesn't work out, our home cud be at risk. He has suggested gifting his half to my father. I was worried about tax, but he mentioned Dwelling house exemption?

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#2 23-03-2023 9:04pm
Geuze

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https://www.revenue.ie/en/gains-gifts-and-inheritance/gift-and-inheritance-tax-cat/index.aspx
This may help.

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