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  • FIRST POST
    • Coldred
    • By Coldred 11th Jul 17, 8:12 AM
    • 32Posts
    • 0Thanks
    Coldred
    Inheriting a property and my help to buy ISA
    • #1
    • 11th Jul 17, 8:12 AM
    Inheriting a property and my help to buy ISA 11th Jul 17 at 8:12 AM
    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
Page 1
    • bob bank spanker
    • By bob bank spanker 11th Jul 17, 8:52 AM
    • 533 Posts
    • 1,039 Thanks
    bob bank spanker
    • #2
    • 11th Jul 17, 8:52 AM
    • #2
    • 11th Jul 17, 8:52 AM
    The terms on the HTB ISA are very clear - you must never have owned any property anywhere in the world, ever, to be considered.
    • gettingtheresometime
    • By gettingtheresometime 11th Jul 17, 9:00 AM
    • 3,593 Posts
    • 8,924 Thanks
    gettingtheresometime
    • #3
    • 11th Jul 17, 9:00 AM
    • #3
    • 11th Jul 17, 9:00 AM
    Another thing to consider is would you be liable for the higher rate stamp duty?
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    • getmore4less
    • By getmore4less 11th Jul 17, 9:40 AM
    • 32,035 Posts
    • 19,222 Thanks
    getmore4less
    • #4
    • 11th Jul 17, 9:40 AM
    • #4
    • 11th Jul 17, 9:40 AM
    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?
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