Finance Act 2007

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Amendment of section 92B (residential property first time purchaser relief) of Principal Act.

108.— (1) Section 92B of the Principal Act is amended in subsection (8)—

(a) by substituting the following for paragraph (a):

“(a) (i) Notwithstanding subsection (1), a spouse to a marriage (in this subsection referred to as a ‘claimant’), the subject of a decree of divorce, a decree of judicial separation, a decree of nullity or a deed of separation (in this subsection referred to as a ‘decree’), shall be deemed to be a first time purchaser for the purposes of the definition in subsection (1), in respect of the first conveyance or transfer, including a conveyance or transfer operating as a voluntary disposition within the meaning of section 30, to the claimant, of a dwelling house, after the date of the decree, where the conditions set out in subparagraph (ii) are satisfied.

(ii) The conditions required by this subparagraph are that—

(I) immediately prior to the date of the decree, the claimant is not beneficially entitled to an interest in any dwelling house other than the dwelling house referred to in clause (II),

(II) the dwelling house, most recently acquired prior to the date of the decree, which was the only or main residence of the claimant and his or her spouse at some time prior to the date of the decree, did not cease to be occupied, at the date of the decree, by the spouse of the claimant as his or her only or main residence and the spouse was beneficially entitled to an interest in the dwelling house on that date or acquired such an interest after that date by virtue or in consequence of, the decree, and

(III) at the date of execution of the instrument, giving effect to the conveyance or transfer, the claimant is not beneficially entitled to an interest in the dwelling house referred to in clause (II).

(aa) (i) Where, by reason only of the fact that the first conveyance or transfer (referred to in paragraph (a)(i)) of a dwelling house was executed on or before the date of the decree, and as a consequence the claimant cannot satisfy the conditions set out in clauses (I) and (III) of paragraph (a)(ii), the claimant shall be deemed to be a first time purchaser for the purposes of the definition in subsection (1), where the first conveyance or transfer is executed in the period of 6 months ending on the date of the decree and the conditions set out in subparagraph (ii) are satisfied.

(ii) The conditions required by this subparagraph are that―

(I) the first conveyance or transfer was made in anticipation of the decree, and

(II) immediately before the date of the decree, the claimant was not beneficially entitled to an interest in any dwelling house other than the dwelling house referred to in subparagraph (i) and the dwelling house referred to in clause (II) of paragraph (a)(ii).

(iii) Where by virtue of subparagraph (i) a claimant is deemed to be a first time purchaser in respect of a first conveyance or transfer, the Commissioners, on a claim being made to them on that behalf and on the conditions set out in subparagraph (iv) being satisfied, shall cancel and repay such duty or part of such duty as would not have been chargeable had paragraph (a) applied to the conveyance or transfer when it was first presented for stamping.

(iv) The conditions required by this subparagraph are that the claimant, when making a claim for repayment, shall produce to the Commissioners—

(I) the stamped instrument,

(II) a copy of the decree,

(III) a declaration made in writing by the claimant, in such form as the Commissioners may specify, confirming to the satisfaction of the Commissioners that—

(A) the conveyance or transfer was made in connection with the decree,

(B) immediately before the date of the decree, the claimant was not beneficially entitled to an interest in any dwelling house other than the dwelling house referred to in subparagraph (i) and the dwelling house referred to in clause (II) of paragraph (a)(ii),

(C) the dwelling house referred to in clause (II) of paragraph (a)(ii) did not cease to be occupied, at the date of the decree, by the spouse of the claimant as his or her only or main residence and the spouse was beneficially entitled to an interest in the dwelling house on that date or acquired such an interest after that date by virtue or in consequence of the decree,

(D) at the time of making the claim for repayment, the claimant was not beneficially entitled to an interest in the dwelling house referred to in clause (II) of paragraph (a)(ii),

(E) since the date of execution of the conveyance or transfer, the conditions referred to in subsection (3)(b)(ii) or, as the case may be, section 92(1)(b)(ii) have been complied with and will be complied with for the remainder of the 5 year period referred to in the subsection or, as the case may be, the section,

(F) the conveyance or transfer is one to which subsection (3A) does not apply, and

(G) where the dwelling house was conveyed or transferred to the claimant and another person, that the other person was a first time purchaser within the meaning of subsection (1), immediately prior to the date of execution of the conveyance or transfer concerned,

(IV) the PPS Number of the claimant and any other person to whom the dwelling house was conveyed or transferred, and

(V) such other evidence that the Commissioners may require for the purposes of this subparagraph.

(v) Subsection (4) shall apply to a conveyance or transfer to which subparagraph (ii) applies as it applies to an instrument to which subsection (2) applies, with any necessary modifications.”,

and

(b) in paragraph (b)—

(i) in the definition of “decree of nullity” by substituting “in the State;” for “in the State.”, and

(ii) by inserting the following after the definition of “decree of nullity”:

“ ‘ deed of separation ’ means a deed of separation executed by both spouses to a marriage and the date of a deed of separation is the date on which such deed is executed by both spouses to the marriage;

‘ dwelling house ’ means a dwelling house or apartment or a part of a dwelling house or apartment;

‘ PPS Number ’, in relation to a person, means the person’s Personal Public Service Number within the meaning of section 262 of the Social Welfare Consolidation Act 2005 .”.

(2) This section applies as respects instruments executed on or after 1 February 2007.