CA24 / Fair Deal Scheme / Property Valuation

[John Snow]

Hi all,

About a year ago we got the family home and small bit of land valued for the fair deal scheme, (we didn't avail of the nursing home loan) the house was valued at €120k and the field €22k, my father spent 5 months in a nursing home and passed away in December, today I got a letter from the HSE looking for a copy of the CA4 form that we recently filled out for probate, the thing is our solicitor advised us to value the house at €150k and the field at €100k on the CA4 form as the field has potential for two sites, this has me worried... the cash assets never changed but the property has been upped by €108k, will the difference in the property value go against us or is it just cash assets the HSE are interested in..

Many thanks,

 

[twofor1]

Sorry for your loss.

Houses / land can go up in value, in my experience reasonable increases are not questioned by the HSE.

One of my relations house value on the CA24 was 40% more than the Fair Deal valuation but that increase was over 6 years and was not questioned by the HSE.

I would be surprised if they accepted what is in your case a house / land increase of 75% in less than a year.

According to the rules anyway, the HSE could now assess the additional €108k less any reasonable increase in value, at either 3.75% or 7.5% for the 5 months your father was in the nursing home.

 

[John Snow]

Thank you...