From: Ric1 .
Seeking some information here.....
My mother-in-law died recently, leaving her house to be sold and the proceeds to be split between her son and her daughter (my wife). The will stipulates that her son has first option of buying the house, but my wife is not mentioned. If he doesn't want to buy it, we intend to. I am wondering if there is any way, under these circumstances, that we can avoid paying stamp duty, and any conveyancing costs. In other words, is there anything about this "transaction" that makes it different from just buying a house.
The experience of anyone who has been through a similar situation would be greatly appreciated.
Thanks,
Ric
Seeking some information here.....
My mother-in-law died recently, leaving her house to be sold and the proceeds to be split between her son and her daughter (my wife). The will stipulates that her son has first option of buying the house, but my wife is not mentioned. If he doesn't want to buy it, we intend to. I am wondering if there is any way, under these circumstances, that we can avoid paying stamp duty, and any conveyancing costs. In other words, is there anything about this "transaction" that makes it different from just buying a house.
The experience of anyone who has been through a similar situation would be greatly appreciated.
Thanks,
Ric
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