Daughter took out a mortgage 15 years ago and the lender required that the father's name be put on the deed and on the mortgage. The daughter paid all the mortgage repayments and now wishes to regularise the situation by transferring title into her sole name (with lender's agreement). Is father subject to CGT? is she subject to CAT? Stamp duty?
Reply: the father has at all times been a bare trustee with no beneficial ownership. Putting the property in the name of the beneficial owner (daughter) is not subject to CGT (TCA 1997 s 576), CAT (self-gift) or stamp duty.