My client and her brother have been left the residuary estate of their aunt by her will (equal shares). The estate consists mainly of two properties. One will be sold to cover IHT and legacies and the remainder then divided between my client and her brother. My client wishes to purchase her brothers share in the other property. She wants her brother to have the cash from the sale proceeds of the first property and make up any shortfall herself. She already owns a property of her own. Would she be liable to pay second homeowners SDLT (if that term is correct) as she is purchasing some of the property and if so on what share. The conveyancing department seem to think it would be payable on half (as she is inheriting half) but surely it would only be on the share she has to actually purchase from the estate?
Phoenix Legal Group