Alan - we are faced with the following CAT problem and we are wondering is there a solution out there!: M.R. deceased died recently. In 1977 M.R. had purchased a dwellinghouse for IR£13,000.00. The purchase price was provided as follows: a. M.R. was the principal party involved in the purchase and she put a lot of money up front. b. K.R. provided less than IR£2,000.00. The balance was got from a Corporation. The property was transferred to M.R. and K.R.as joint tenants. K.R. even though she signed the Deed in 1977 was not aware she was a joint owner of the property and did not expect to be a joint owner of the property as she only provided 2/13 of the purchase price. K.R. only resided in the property for a limited period. As far as K.R.is concerned she was never a half owner of the property even though she signed the Deed of Conveyance she was not aware of what was going on and would not have had much business acumen. The property was always treated as M.R.’s family home and K.R. never stayed there except to visit her sister occasionally. Any utility bills were paid by M.R. and any repayments under the Corporation Loan were paid by M.R. and K.R. did not contribute to the outgoings in respect of the dwelling. Under the terms of M.R.’s Will she left a small pecuniary legacy to K.R. and she bequeathed the residue to her two nephews which residue M.R. thought included the dwellinghouse. At the date of death the property was valued at €177,500.00. As K.R. was not residing in the dwellinghouse with her sister M.R. she would not be entitled to relief applicable to parties living together. K.R. was shocked and surprised to learn when the Deeds were taken up from the Bank that the property was registered in 1977 in the name of M.R. and K.R. as joint tenants. QUERY can K.R. now maintain that she is a mere Trustee of the dwellinghouse in favour of the Estate of M.R. and whether the Revenue would consider in the circumstances outlined above that there was a Trusteeship in existence. K.R. does not wish to take any benefit in respect of the said dwellinghouse of the deceased M.R. Your opinion would be greatly appreciated.
Marked as spam