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Right of Residence

  • 24-04-2025 05:03PM
    #1
    jennywondering
    Registered Users, Registered Users 2 Posts: 3 ✭


    Hi

    I have an apartment that I would like to give it to my brother to live in by way of a legal Right of Residence process. (I know that I would have to get a solicitor involved in the matter).

    I would like to know now -

    What rights would I have and what rights would my brother have? Say, if I give it to him for say 10 years, who is responsible for upkeep, damage to the property costs, management fees, insurance etc. during the 10 years. He does not have another property and it would be his home.

    (Would it be better to transfer the property to him outright). I want to help him and I am not relying on the property.

    Is there a tax implication for both of us?

    He is aged 68 and I am 70.



Comments

  • #2
    DubCount
    Registered Users, Registered Users 2 Posts: 1,118 ✭✭✭DubCount


    Definitely worth talking to a solicitor on this one.

    If your brother is not liable to pay rent, then I dont think he meets the definition of a tenant, and so would be a licensee. Whatever agreement is arrived at, that would be important as legal rights for tenants are far more considerable than for licensees.

    Tax wise, I dont see any impact for you. However your brother may be deemed to have received a gift from you which might give rise to gift tax (Capital Acquisitions Tax) depending on the market value of rent for the property and previous gifts/inheritances your brother has received. Again, a solicitor may advise on consideration your brother could provide by way of caretaking type duties.

    Nice thing to do for your brother. I hope it works well for you both.



  • #3
    Mrs OBumble
    Registered Users, Registered Users 2 Posts: 26,529 ✭✭✭✭Mrs OBumble


    The best course of action depends on why you are thinking about giving him a right of residence, rather that ownership- eg, do you think he may sell it and drink (or whatever) the proceeds?

    You probably don't want to be posting details here. But a free and frank discussion with a solicitor is a really good idea.



  • #4
    rubberdungeon
    Registered Users, Registered Users 2 Posts: 616 ✭✭✭rubberdungeon


    Lovely thing to be able to do for your brother.

    Having a chat with a solicitor to advise you on how to make it all happen is the best advice for you both to have, your brother may need advice for himself also.

    I don’t know if a caretaker agreement is a passibility for your situation but no harm to ask your solicitor when you meet them.



  • #5
    herbalplants
    Registered Users, Registered Users 2 Posts: 1,448 ✭✭✭herbalplants


    https://www.boards.ie/discussion/2058407457/right-of-residence

    Do you have kids?

    Remember the shills only get paid when you react to them.



  • #6
    endofrainbow
    Registered Users, Registered Users 2 Posts: 3,015 ✭✭✭endofrainbow


    Why only 10 years? do you intend taking it back then?



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