FTB definition

lottiemay

This may seem a silly question!

I have never bought a house before, but when my mum passed, her house went to me and my brother. We sold it and divided the proceeds between us.  Now that I am buying a house am I still classed as a first time buyer or will I have to pay stamp duty?

p00hsticks

Did the executor of your mums will sell the house while it was still part of your mothers estate and give the proceeds to you and your brother (which would be the usual thing to do if the property was going to be sold straight away) , or was the property actually transferred into you and your brothers names first ?  

lottiemay

p00hsticks said:

Did the executor of your mums will sell the house while it was still part of your mothers estate and give the proceeds to you and your brother (which would be the usual thing to do if the property was going to be sold straight away) , or was the property actually transferred into you and your brothers names first ?  

We were the executors of her will. We sold the house and split the proceeds

housebuyer143

If you didn't register it in your names before the sale then you are still a FTB

propertyrental

lottiemay said:

p00hsticks said:

Did the executor of your mums will sell the house while it was still part of your mothers estate and give the proceeds to you and your brother (which would be the usual thing to do if the property was going to be sold straight away) , or was the property actually transferred into you and your brothers names first ?  

We were the executors of her will. We sold the house and split the proceeds

That does not clearly answer P00sticks' question.

Did you (as Executers) sell the property before winding up the Estate, or did you transfer it into the names of the Beneficiaries (you and brother) and then sell?

lottiemay

propertyrental said:

lottiemay said:

p00hsticks said:

Did the executor of your mums will sell the house while it was still part of your mothers estate and give the proceeds to you and your brother (which would be the usual thing to do if the property was going to be sold straight away) , or was the property actually transferred into you and your brothers names first ?  

We were the executors of her will. We sold the house and split the proceeds

That does not clearly answer P00sticks' question.

Did you (as Executers) sell the property before winding up the Estate, or did you transfer it into the names of the Beneficiaries (you and brother) and then sell?

I believe we sold it as executors. It was over a year ago now so hard to remember, but I will look back on the paperwork

SDLT_Geek

lottiemay said:

This may seem a silly question!

I have never bought a house before, but when my mum passed, her house went to me and my brother. We sold it and divided the proceeds between us.  Now that I am buying a house am I still classed as a first time buyer or will I have to pay stamp duty?

As others have said, the answer depends on how the property interests were dealt with and whether you, in your personal capacity, ever acquired an interest in the property.  There is some guidance on that relevant to stamp duty land tax (albeit in the context of the 3% surcharge) here: https://www.gov.uk/hmrc-internal-manuals/stamp-duty-land-tax-manual/sdltm09795

You might have acquired an interest in the property (and so not be a first time buyer) through:

• An assent to you.
• An appropriation in your favour.
• The administration of the estate being complete.

In looking at the guidance, ignore the bits about the three year grace period.  That is relevant to the 3% surcharge but not to status as first time buyer.