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House buying

Nannadoll61
Nannadoll61 Posts: 1 Newbie
in House buying, renting & selling
If I buy a property before an inherited property I live in has been transferred into my name, do I have to pay stamp duty at the higher rate (ie as a second home?) the inherited property will be sold once grant of probate is given.

Comments

  • MeteredOut
    MeteredOut Posts: 3,467 Forumite
    1,000 Posts Second Anniversary Name Dropper
    edited 20 October at 10:29AM
    You don't own the inherited property until it is transferred to you (its still belongs to the estate), so buying a property before that happens will not be a second property for stamp duty purposes.
  • Herzlos
    Herzlos Posts: 16,073 Forumite
    Part of the Furniture 10,000 Posts Photogenic Name Dropper
    Is the inherited house going to given to you and then sold, or are you going to be selling it as part of the estate? The latter means you wouldn't own it at any point. 
  • Keep_pedalling
    Keep_pedalling Posts: 21,553 Forumite
    Tenth Anniversary 10,000 Posts Name Dropper Photogenic
    If the inherited property is being sold it never needs transferring to your name. 
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