Transferring land to children through a will.

keanoo

Registered User
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Good morning, my father has land in Co. Galway, received from his father who received it from the government through the Irish Land Acts(I believe.)
He's not in the best of health now and would like to make sure the land goes to his children(me and my siblings) either now, or when he passes.
We're all based in the UK now so have very little knowledge on Irish law's, land transfer procedures etc which is why I'm asking here to hopefully get some help.
We're not in any major rush to receive the land, we just want to get it sorted for my father as it's something he's worried about.
Would a will leaving the land to us be enough to sort this? or would it be recommended to transfer the land while he is still here? and if there is nothing in place when my father does pass, would this land be taken back by the Irish government?

Many thanks,

Dan
 
If he dies without a will, the land or any other assets are not taken by the State.

Without a will, the assets are distributed in accordance with the Succession Acts.

 
I agree with everything above.

It would also be a good idea for the father to make an appointment with a solicitor to review the title to the land- and to make a will, if he has not already done so. .

It is easier to sort out potential title issues before death.

"or would it be recommended to transfer the land while he is still here? "

Not usually recommended - an "inter vivos" transfer ( as in while the owner is still alive) will incur stamp duty and, possibly, CGT- neither of which will arise on death.

mf
 
I have a similar question. So my mother wants to transfer a small parcel of land to me that has been valued at 120K (valuation price but agricultural price would be half that) and I've been asked to pay 9000 stamp duty which is a lot of money. The land is currently rented out by my mother for 600 Euro a year so at that rate alone it would take 15yrs just to get back my 9K Stamp duty. Would I be better off if we just willed me the land instead of transferring it to me while she's alive? And if she still wants to gift it to me any way to reduce the 7.5% rate? as I have read something about getting it reduced to 1% if you agree to lease it for 6 years.
 
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I can't answer your specific question on stamp duty but are you sure your valuations are correct?

In another thread you mention it is 5 acres so at your agricultural value of €60k (€12k/acre), that would be considered high quality agricultural land in most parts of the country and should therefore be getting an awful lot more than €600 in rent.

And is the €120k valuation official or is this just your guess? If it is being transferred for continued agricultural use then the €120k is not relevant. Or if only you intend to build on it, the half acre site that you build on will have an increased value

You will have to get a solicitor involved to transfer the land anyway so you should ask them the specific questions on stamp duty.

You may be entitled to a stamp duty relief if you continue leasing the land for at least 6 years (read "Relief on farmland transfers within a family" Citizens Info) but again this should be very simple for your solicitor to answer
 
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