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Land Undervaluation on CAT24?

eamon11 · 2015-01-04 21:38:27

My father passed. I am executor and my brother and I have been left land. The value of mine on cat24 is around 30,000 euro but in reality this should be sold for around 80,000 I am now told. I allowed my brother to organize an auctioneer valuation and it turns out he got him to really undervalue the land. Probate has…

04-01-2015 9:38pm

#1

eamon11

Site Banned Posts: 518 ✭✭✭

Join Date: May 2011

Posts: 319

My father passed. I am executor and my brother and I have been left land. The value of mine on cat24 is around 30,000 euro but in reality this should be sold for around 80,000 I am now told. I allowed my brother to organize an auctioneer valuation and it turns out he got him to really undervalue the land. Probate has already been completed 8 months ago. I now wonder what I can do to rectify the situation.I am not a farmer and have no dealings with the land as such. This is the only thing I received and I wonder how will this affect any tax I may have to pay?

Many thanks in advance

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Comments

#2 05-01-2015 10:53am

dogsears

Registered Users, Registered Users 2 Posts: 535 ✭✭✭

Join Date: July 2012

Posts: 532

You're really going to need to get professional advice on this. You couldn't rely on anything less than that to be honest. Best of luck with it.

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