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Inheriting land

  • 15-06-2020 5:06pm
    #1
    shedpaddock
    Registered Users, Registered Users 2 Posts: 11 ✭


    If someone is due to inherit an acre of land on a family farm, can they refuse to accept the inheritance and have it inherited by a sibling instead? Or can the inheritance be postponed for a period of twelve years instead?


Comments

  • #2
    [Deleted User]
    Posts: 0 ✭ [Deleted User]


    shedpaddock wrote: »
    If someone is due to inherit an acre of land on a family farm, can they refuse to accept the inheritance and have it inherited by a sibling instead? Or can the inheritance be postponed for a period of twelve years instead?

    They cannot nominate someone else. They can disclaim for “consideration”, By disclaiming, it goes into the “Residue” of the estate and will go to whoever is left the “Residue”. A good solicitor will advise.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    Three page PDF file here on the Revenue website entitled 'Disclaimer of Benefits'....

    https://www.revenue.ie/en/tax-professionals/tdm/capital-acquisitions-tax/cat-part06.pdf


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