irish property law

HELENC1984_2

the relative left it to our father in his will, father died in 2002

The relative in question died in sept 2010 the solicitor has said there are major CGT implications as they have to value the property as date of death of our father and compare it to the value at present day

are we liable for CGT for the value difference between when dad died and now, or when our relative died and now?

His will left everything to our mum who has released her interest and has signed it over to me!!

is this going to get messy?

Thanks for your post cissi

x

Moglet

It sounds like what the others are saying that your father might not have inherited anything.

tyllwyd

You need to be sure if the solicitor is talking about CGT (capital gains tax) - which is the UK tax - or CAT (capital aquisitions tax) - which is the Irish tax.

I had a look at the book I worked on, and it seems that in certain sitations it might be possible to take an inheritance while the original owner is still alive. It doesn't make sense to anyone who is used to thinking about UK law!

This is the scenario the author described:

A settles property on B for life with remainder to C absolutely (while A and B are still alive).

B dies. On the death of B, C is deemed to take an inheritance from A, who may still be alive at that date.


Does that look anything like your situation?