Buying Out Mother's Brother In Inherited Grandfather's House

mn07cjg

Hi all,

This is my first time posting here however I was hoping for some collective advice. I have done a lot of googling but so far have not been able to find anything that can help with my query. My mother has just inherited my grandfather’s property with her brother (half share each). I would really like to buy her brother out so that I can own the house with my mother and then rent it out. Does anyone know what the implication is with stamp duty? For example, would I need to pay second property stamp duty on half of the property amount (as I already own a house). The value of my grandfathers property is £180k, so I would suppose the stamp duty due would be on £90k? This is made a little more complex as I am looking at moving my primary residence in a year or so. I am therefore anxious that by moving, my grandfather’s home would become my ‘primary’ residence and therefore we would have to pay ‘second home’ stamp duty on my next primary home purchase. If anyone can clarify how this might work or offer the best way of going about doing this, this I would be extremely grateful.

Many thanks in advance,

Chris

xylophone

Buying out a sister rather than an uncle but the principle remains the same.
https://www.theguardian.com/money/2018/mar/12/stamp-duty-share-property-inherited-sdlt
Re selling your main residence and replacing it
https://wards.uk.com/news/penalty-stamp-duty-rate-main-residence-exception/#