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Getting your name put on the deeds of a house

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  • 04-03-2009 1:40pm
    #1
    JennyAnt
    Registered Users Posts: 91 ✭✭


    Hi,

    Just wondering if anyone knows the cost of getting your name put on the deeds of a house?
    And if you have never been on the property ladder before how does this affect your first time buyer status?

    Thanks!


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    #2
    EKRIUQ
    Registered Users Posts: 4,386 ✭✭✭EKRIUQ


    It will cost approximately €1,000 depending on your solicitor costs and yes you will lose your first time buyer status


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    #3
    JennyAnt
    Registered Users Posts: 91 ✭✭JennyAnt


    €1000?! Thats great. A friend of mine was told she could have half the house if she was willing to pay the fees of up to €10,000!! :eek:
    Thanks.


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    #4
    Victor
    Registered Users Posts: 78,392 ✭✭✭✭Victor


    Realise that the solicitor may have costs (easily more than another €1,000) and that there may be taxes due.


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    #5
    EKRIUQ
    Registered Users Posts: 4,386 ✭✭✭EKRIUQ


    JennyAnt wrote: »
    €1000?! Thats great. A friend of mine was told she could have half the house if she was willing to pay the fees of up to €10,000!! :eek:
    Thanks.

    As Victor says there could be extra hidden costs but it's done regularly in solicitors offices mainly between married couples whose house has been in one spouses name before marriage, and often a requisite if a married couple are looking for a top up mortgage or new mortgage.


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    #6
    esmeralda
    Closed Accounts Posts: 39 ✭esmeralda


    Victor wrote: »
    Realise that the solicitor may have costs (easily more than another €1,000) and that there may be taxes due.

    I'm not an expert but I would think that if you suddenly acquire ownership rights of an asset like a house in the form of a gift or donation, the tax people would be very interested, in much the same way as when you inherit a house.


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    #7
    Wile E. Coyote
    Registered Users Posts: 1,560 ✭✭✭Wile E. Coyote


    I would imagine that the cost all depends on if the couple is married. If they are then it shouldn't cost too much as legally everything is jointly owned. But if it's a case where the couple aren't married it will cost a lost more than €1,000 as you will run into tax issues because the asset will be classed as a gift etc.

    Friends of mine tried to do this and they were quoted something in the region of €30k.

    Not sure how things would work if you were to 'sell' half the house to the other person for a small fee though!


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    #8
    JennyAnt
    Registered Users Posts: 91 ✭✭JennyAnt


    Well this couple aren't married, he bought land and recently built a lovely house on it. He has been let go from his job and she is now paying all bills and mortgage repayments, and buying items (cooker, beds, dining table! :eek:) just handing over cash!
    She has been asking him about getting her name put on the house, but he has stated that it would cost anything up to €15,000 which they just dont have right now....
    Kind of a catch 22 seen as I dont think they are ready for marraige (relaionship can be volatile, which is the reason she wants something to show for all her money I think!)


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