Stump Duty

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edinburgh12
edinburgh12 Posts: 26 Forumite
in Cutting tax
My son want to gift me and my wife his hosue worth 250k.outstanding mortgage 50k which we will take responsibility.Do we have to pay stump duty on tranfer of this house.he bought this hosue in 2005 &paid stump duty that time.there is no money involve this time apart from we will take mortagge responssibilty.any help or suggestion please.thanks

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  • edinburgh12
    edinburgh12 Posts: 26 Forumite
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    My son want to gift me and my wife his hosue worth 250k.outstanding mortgage 50k which we will take responsibility.Do we have to pay stump duty on tranfer of this house.he bought this hosue in 2005 &paid stump duty that time.there is no money involve this time apart from we will take mortagge responssibilty.any help or suggestion please.thanks
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