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Coldred
Posts: 43 Forumite
Hello
I have a help to buy ISA (please bear with me this is relevant) which i have applied to close as we are due to purchase a property in a couple of weeks. Unfortunately a parent passed away late last year with no will, his property passed to his mother. She offered us (siblings) the property as she is too frail to manage a second house and so it is being transferred to myself and sisters following probate and a deed of transfer. This wasn't due to take place for a few months which wouldn't have been a problem except a lot of hurdles have been cleared quickly and it now seems likely that the deed of transfer will be signed shortly. I am worried that when i am a part owner in my parents property through inheritance that i will no longer be eligible for the government top up to my ISA (which i suspect will be the case) has anyone any experience with what options are available to me? as i stand to lose quite a lot from my ISA. Our house buying solicitor who i thought might be helpful and have some experience off this have been just the opposite.
Any help or guidance is appreciated.
Thanks
I have a help to buy ISA (please bear with me this is relevant) which i have applied to close as we are due to purchase a property in a couple of weeks. Unfortunately a parent passed away late last year with no will, his property passed to his mother. She offered us (siblings) the property as she is too frail to manage a second house and so it is being transferred to myself and sisters following probate and a deed of transfer. This wasn't due to take place for a few months which wouldn't have been a problem except a lot of hurdles have been cleared quickly and it now seems likely that the deed of transfer will be signed shortly. I am worried that when i am a part owner in my parents property through inheritance that i will no longer be eligible for the government top up to my ISA (which i suspect will be the case) has anyone any experience with what options are available to me? as i stand to lose quite a lot from my ISA. Our house buying solicitor who i thought might be helpful and have some experience off this have been just the opposite.
Any help or guidance is appreciated.
Thanks
0
Comments
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The terms on the HTB ISA are very clear - you must never have owned any property anywhere in the world, ever, to be considered.0
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Another thing to consider is would you be liable for the higher rate stamp duty?0
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Unless there are time constrains for IHT/CGT issues and a DOV just delay the transfer as it will cost money.Unfortunately a parent passed away late last year with no will
no there is still over a year to do the DOV if one is needed
Are you sure you want share of a second property?0
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