Posted on: 29th May, 2009 10:21 am
A sister and brother own a home together, the brother dies and the ownership is written by survivorship. Does inheritance tax have to be
paid on 1/2 of the house? When do you pay? Now or when you sell the house?
paid on 1/2 of the house? When do you pay? Now or when you sell the house?
You pay the tax when you seel the house.
Hi cardiomom,
AS far as as I know, if there is a survivorship deed, then the sister does not need to pay the inheritance tax. However, it would be better if you could consult an tax assessor and take his opinion in this regard.
Thanks
AS far as as I know, if there is a survivorship deed, then the sister does not need to pay the inheritance tax. However, it would be better if you could consult an tax assessor and take his opinion in this regard.
Thanks