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Soon to come into land

eamoncooke · 2015-01-05 20:24:22

Long story short I will soon be getting the deeds for a derelict bungalow and 13 acres of land which has been valued at a minimum of 100k. My question now is what sort of tax liabilities will i have from it? Also I was considering getting a mortgage previously before i went traveling for a couple of years. Will the banks…

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05-01-2015 9:24pm

#1

eamoncooke

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Join Date: March 2008

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Long story short I will soon be getting the deeds for a derelict bungalow and 13 acres of land which has been valued at a minimum of 100k. My question now is what sort of tax liabilities will i have from it?
Also I was considering getting a mortgage previously before i went traveling for a couple of years. Will the banks let me use this land as a deposit to draw down on or will I have to sell it or part of it? I know i may be exempt from some taxes due to it being my father giving it to me and I have an agricultural qualification but if i sell before holding it for 6 years I get hit with cgt etc.
Any advice welcome

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#2 08-01-2015 2:32pm
Henry Ford III

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No CAT if €100000 gift or inheritance comes to you from your father I think.

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