Selling, buying or transferring a property

What happens when there is more than one sale in a valuation period?

Prior to a sale or transfer of a property, the seller provides LPT clearance to the buyer confirming that:

• all LPT returns are on file
• all LPT tax and interest liabilities have been paid
• all deferred tax and interest liabilities have been paid
• any claim for exemption has been verified by Revenue
• and
• the declared valuation for the property (as at 1 May 2013 and, or 1 November 2021) appeared reasonable.

Where the sale or transfer is not the first in the valuation period, the following should be given to the buyer:

• A copy of the LPT clearance documents for the first sale in the valuation period.
• and
• Confirmation that all LPT and Household Charge liabilities have been paid in full. A current Property History Summary printout confirms that returns and payments have been made for all periods. This includes confirmation that all deferred payments have been paid including deferral interest accruing to date of payment.
• or
• Confirmation that any exemption claimed is Revenue verified.

You should retain these clearance documents. You must provide these to future buyers if the property is sold or transferred again during the valuation period.

If the current seller does not hold a copy of the LPT clearance for the previous sale(s), the buyer must be provided with confirmation that:

• all LPT returns are on file
• all LPT and interest is paid
• the valuation(s) declared as at 1 May 2013 and, or 1 November 2021 appears reasonable
• and
• any claim for exemption has been verified by Revenue.

Where general clearance conditions were not met for the first sale in the period, specific clearance should have been requested from Revenue. If the current seller:

• does not have a copy of specific clearance approval for the first sale
• and
• the property does not now qualify for general clearance

the seller should submit an application for specific clearance (LPT5) to LPT Branch.

Where specific clearance conditions are met, Revenue will issue confirmation of clearance covering all years. Revenue clearance will cover periods from 2012 to the date of clearance.

Note

Specific clearance applications are generally processed within 12 working days. Please do not contact Revenue for an update unless this time frame has elapsed.

An exemption from LPT may have been claimed in the first or subsequent sale. The seller may not be able to provide confirmation of entitlement as they did not make the claim. The seller should request approval from Revenue of the exemption claimed.

Next: You are buying a property from a local authority