Rules on gifting property while alive are very different to the situation when you are dead and the recipient is inheriting
Leaving your home to your son who has a disability will not put him at risk of having the property sold from under him to meet a tax bill. Photograph: iStock
That happened in 2016 as Revenue looked to stem what it considered active tax avoidance by some wealthy families who were using loopholes in the tax code to essentially fully fund their adult children’s lifestyles, including, in this case, gifting them homes. So, clearly, under this definition, your son would not benefit form the dwelling house exemption if you were to transfer it to his name while you were alive.
* your son must have no interest in any other property when he inherits this family home. That would include inheriting any other house or apartment of yours. The fact that the property is worth around €1 million makes no odds. It will be exempt regardless of value as long as it is on a site that is no more than one acre in size.
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