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Farm entitlements value?

  • 15-07-2012 7:45am
    #1
    bandit2012
    Registered Users, Registered Users 2 Posts: 14 ✭


    Hi my uncle died recently and left no will.Im just wondering the value of his farm entitlements.He farmed about 80 acres in his own right and the home farm was in joint names of himself and his sister of about thirty acres.Last year he recieved just over twelve thousand single farm payement and a DAS payment of about 4k.If the land is to be sold as is his siblings wishes how much value would these entitlements hold?Would they be sold with the land or without normally?


Comments

  • #2
    Manoffeeling
    Closed Accounts Posts: 931 ✭✭✭Manoffeeling


    They will be sold separately from the land. There are auctioneers in the back of the journal who specialise in entitlements. I got mine valued last spring and they were one and a half times their worth. Contact the lady from Kells and also the department to make sure the paperwork is in order. Solicitors will drag this out. Hope this helps


  • #3
    bob charles
    Registered Users, Registered Users 2 Posts: 6,343 ✭✭✭bob charles


    bandit2012 wrote: »
    Hi my uncle died recently and left no will.Im just wondering the value of his farm entitlements.He farmed about 80 acres in his own right and the home farm was in joint names of himself and his sister of about thirty acres.Last year he recieved just over twelve thousand single farm payement and a DAS payment of about 4k.If the land is to be sold as is his siblings wishes how much value would these entitlements hold?Would they be sold with the land or without normally?

    someone will know for certain but AFAIK if there is no will then the entitlements are lost


  • #4
    Manoffeeling
    Closed Accounts Posts: 931 ✭✭✭Manoffeeling


    bob charles wrote: »
    someone will know for certain but AFAIK if there is no will then the entitlements are lost
    Really? But are they not assets?


  • #5
    Farmer Pudsey
    Registered Users, Registered Users 2 Posts: 6,326 ✭✭✭Farmer Pudsey


    You seem to be saying that there are about 110 acres with a SP of 12K. This equates to about 270/HA. You can sell with and without the land. 270/Ha would not be overally valulable. There is no entitlement to DA you apply for it and if you have been an applicant all along you can still collect.

    Was the herd No and payments in joint names or was it in the uncles names. If in joint names sister is I think entitled to at least half you would need a solicitor to confirm. SP is considered seperate to land so if a farm is left to a person the entitlements and stock machinery have to be mentioned specifically otherwise they are part of the residue

    They can be sold with or without the land an auctioneer will advise which is is in the best intrest of the estate gennerally farmers can afford to pay more for land if entitlements are with it or have the option to but them as they are generateing an income straight away.


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