Gifting property – the process of transferring ownership – is a common practice in Ireland. The most popular drivers remain
- Keeping assets in the family
- Helping children financially
- Helping older relatives
- Reducing tax liabilitiesOften, gifting property can be the right step, but before rushing into it, it’s important to understand that while it can bring many benefits, it’s not entirely with risks or considerations that need to be worked through. It’s important to talk through the pros and cons and decide if it is the right step for you or if now is the right time to take it.
DO I NEED A SOLICITOR?
Not only do we recommend that you should always take independent legal advice in relation to a transfer, but it’s important to discuss this in detail with your accountant or tax advisor.
Our team of solicitors are dedicated conveyancers – specialising in all things Property related. They are not distracted by court cases; working exclusively on Property files.
We provide a full service in relation to a Transfer of Ownership, and have experience of working closely with other professionals (such as your accountant) to help ensure that the transfer is done in the best and most advantageous way possible.
Our estimated profession fee is currently €1,695 (plus VAT and Outlays) for this service. If there are any issues with the Title to the Property, or any other aspect to the Transfer, we will let you know, and will be able to talk you through the options to correct it. It’s important to understand that some of those options may require additional work to be done, which will mean the estimate will need to be adjusted.
Lastly – it’s important to remember that there will be some other costs involved in a Transfer, mostly in relation to Land Registry Fees, Searches and fees to your accountant/advisor.
If you would like to engage us to act for you in your Transfer, we are happy to help. Simply click here to let us know [email protected]