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Selling a property together - hidden costs?

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  • 04-07-2005 12:13pm
    #1
    mathie
    Registered Users Posts: 5,102 ✭✭✭


    I own the house with my sister. We both live there and both get mortgage relief.
    My sister also owns a house with her boyfriend.

    Would you know if we would have to pay anything like CGT or somethng similar if we sould the house we have together?

    Thanks
    M


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    #2
    babaduck
    Registered Users Posts: 488 ✭✭babaduck


    If the house is your primary principal residence, then you are exempt from CGT. What's the story with your sister & the other house????


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    #3
    mathie
    Registered Users Posts: 5,102 ✭✭✭mathie


    babaduck wrote:
    If the house is your primary principal residence, then you are exempt from CGT. What's the story with your sister & the other house????

    Well she lives with her boyfriend there and I live in this house.

    She does have her mortgage relief at the house that we bought together even though shes living in the other house with her boyfriend.

    We were wondering if we'd have to pay anything. Or is her house with her boyfriend seen as her investment property?

    Thanks for the help.
    M


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    #4
    babaduck
    Registered Users Posts: 488 ✭✭babaduck


    You should double check this with a financial advisor or solicitor but from the sounds of this, her shared house with the boyfried is either in his name only or a 2nd property, so she should be from CGT too


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