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Splitting interest in property

  • 22-01-2019 12:32pm
    #1
    MarioLuigi
    Closed Accounts Posts: 54 ✭✭


    Apologies if this has been asked before, couldn't find anything about it. May be slightly complicated and I will be seeing a solicitor but trying to get a rough idea now for tax implications.

    A couple (A and B, not married) are taking out a joint mortgage to purchase a house. The house is currently owned by the parents of B, and it's being sold for below market value. Ignoring any tax issues, is there some kind of legal document which can be drawn up before completion to state that parents are gifting B x amount of an interest in the property.

    Example if property is worth €500k, and being sold to the couple at €400k. Is it possible to say that the €100k difference is a gift to B only and that when the mortgage is paid off, B will own €300k and A will own €200k? In other words A is not technically benefiting from the gift from the parents to B.


Comments

  • #2
    Tomw86
    Registered Users Posts: 941 ✭✭✭Tomw86


    Wow.

    I believe a contract on ownership CAN be drawn up, but I would be incredibly offended if I was A.


  • #3
    Mr. Incognito
    Registered Users, Registered Users 2 Posts: 9,798 ✭✭✭Mr. Incognito


    this is blatant tax and legal advice

    I charge for this in real life so unlikely to get it for free on an internet forum

    Speak to a solicitor.


  • #4
    nuac
    Registered Users, Registered Users 2 Posts: 6,769 ✭✭✭nuac


    Mod
    Talk to your solicitor. Forum rules out legal advice. Closed


This discussion has been closed.
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