Hi - my son will acquire 50% of a property as per my mum's will on which no stamp duty is payable. He does not own any other property so is effectively a first time buyer. If he were to buy out the other 50% which has a value of around 280k (value of property 560k), would he have to pay any stamp duty on this or will he be exempt as the value is below the threshold for first time buyer of 300k?
Any comments would be appreciated.
Thanks
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