Site and House Transfers
Traditionally in Ireland parents transfer a piece of land to their child or a close relative for the purpose of a site to build their home. It is also common for a family home to be transferred to the next generation.
There are three taxes that have to be considered:
- Capital Gains Tax (CGT)
- Capital Acquisitions Tax (CAT/Gift/Inheritance Tax)
- Stamp Duty
There are also exemptions and reductions that can be made to these taxes if certain conditions are met.
Our Property Team can advise you fully on all aspects of site and house transfers and the options that best suit your circumstances.