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Transfer of rental property

  • 07-10-2023 4:54pm
    #1
    sugarman20
    Registered Users, Registered Users 2 Posts: 283 ✭✭


    Hello all

    My father runs a rental property and wants to transfer the property to me. If he does this can be the existing tenants be evicted? We want to lease the property to a local county council as there would be less work involved.



Comments

  • #2
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,292 ✭✭✭✭Mrs OBumble


    Consult a lawyer. A different one from the one your father is using.



  • #3
    Ginger83
    Registered Users, Registered Users 2 Posts: 3,587 ✭✭✭Ginger83


    https://www.boards.ie/discussion/2058317196/transfer-of-rental-property

    You can only end a tenancy if you intend to sell or use for yourself or some family members



  • #4
    FishOnABike
    Registered Users, Registered Users 2 Posts: 4,636 ✭✭✭FishOnABike


    https://www.boards.ie/discussion/comment/121206983#Comment_121206983

    and tax advice - do you intend buying it from him at full market price, stamp duty etc...

    Your father may also have capital gains liability if he sells it.

    That still doesn't preclude the tenant from raising a dispute with the RTB and the possibility that evicting a tenant to sell a property to a family member who immediately leases the same property to a local authority might be seen for what it is - a dubious dodge to try circumvent tenancy law and rights.

    Tread very carefully - both you and your father could end up having incurred property transaction costs, tax liabilities and end up with the original tenant still in place having been awarded a very substantial award against you.



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