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Inheritance deed of agreement and CAT

  • 12-11-2024 05:29PM
    #1
    Donal27
    Registered Users, Registered Users 2 Posts: 18 ✭


    Hi all,

    quick question. family home valued at 80k left to 8 siblings (including myself), could a deed of agreement be used for the other 8 siblings to part gift/part sell the house to myself. ie. if they part gifted 50% of the house value 35000 (5 k each) and I part paid them 35k (5k each), would i have to pay CAT or just stamp duty. Also is 40k the max you can receive from siblings and a parent, say there was a cash element to the will bestowed by the parent. would this be included in the 40k max gift amount or is that separate as inherited from parent.

    Just to confuse things more, could siblings part gift me home and could i use part of cash inheritance to part pay them for their share in the property.

    Also in next year or next couple of years could i regift them the 5k they gifted me back without any tax implications? or would this be a bit on the dodgy side?

    Many thanks,
    D



Comments

  • #2
    L1011
    Registered Users, Registered Users 2 Posts: 72,831 ✭✭✭✭L1011


    You can receive 400k from Group A (parents) and 40k from Group B (siblings, grandparents) - that's in total

    What you're describing sounds like a loan, not a gift if there is any implicit repayment in future.



  • #3
    wrangler
    Registered Users, Registered Users 2 Posts: 11,498 ✭✭✭✭wrangler


    https://www.boards.ie/discussion/2058380430/inheritance-deed-of-agreement-and-cat

    You can recieve €350000 from a parent tax free, the budget has changed that limit to €400000 this year.

    You can also gift 3000 tax free to anyone, so a couple can gift 6000 taxfree to anyone.

    I'm sure you'll figure out something now



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