Hi, my brother and I inherited our father's house and I am buying it from my brother. The solicitor says we have to put it in joint names first then do another transfer into my name only. Is this correct or can it go into my name if my brother submits a letter approving this? We are in NSW. Thanks
TRANSFER OF UNIT INTO BENEFICIARIES NAMES THEN SOLELY ONE BENEFICIARY
- Thread starter gailpk
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It depends on the nature of your inherited holding (joint tenants or tenants in common) and, a bit, on the wording on the will.
There is also the question of your brother needing to (part) own it, before he can sell it to you ("you can't sell what you don't own").
If he decides not to accept the inheritance, then you might end up buying the whole house from the estate, not some share of from your brother.
That may or may not be tax efficient.
The solicitor might well be right.
There is also the question of your brother needing to (part) own it, before he can sell it to you ("you can't sell what you don't own").
If he decides not to accept the inheritance, then you might end up buying the whole house from the estate, not some share of from your brother.
That may or may not be tax efficient.
The solicitor might well be right.
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