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Selling inherited property for more than probate valuation
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Yes they do check. The example you quote suggests that a fraudulent value declaration has been made to the Land Registry. Not uncommon my sources tell me and one that may have expensive consequences.Do the HMRC check? I know of listed on https://www.ourproperty.co.uk - which use Land Registry prices - where the price listed was under the stamp duty threshold, despite it being bought by one the beneficiaries for in the region of £70k more!!0 -
Do the HMRC check? I know of listed on https://www.ourproperty.co.uk - which use Land Registry prices - where the price listed was under the stamp duty threshold, despite it being bought by one the beneficiaries for in the region of £70k more!!
If they were a beneficiary then the purchase price/consideration to the estate could well be a a lower value as they effectively already owned part of it.0
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