unfortunately not the case. they wanted to abolish ground rent but couldn't do it constitutionally; but they have placed limits on how much back rent can be demanded (six years), and have made it possible to buy your lease out for around €1k. though if there's less than 25 years left on the lease (IIRC) the cost of buying it out starts to go up, and go up quickly.
Oh yes, I had forgotten, we did pay out a lump sum to be rid of it, I don't think it was anything like 1k though? Yes, ignore what I said, I misremembered. The proposal was floated but in the end it could not be done.
i think it's generally around 1k because you've to pay your own legal fees as well as the seller's legal fees, as they're not making a profit on the transaction?
we got a letter a couple of years ago, some crowd in dublin bought out the portfolios of a shedload of houses on the northside of dublin. the ground rent hadn't been collected in decades.
Not quite right. It was very common practice for all estates built for the land to remain in the ownership of the builder. It mostly stopped in the 90s but still remains in many estates to this day. UK landlords get mentioned because of some (very few) land still remained in their ownership but hadn't collected it in decades. It was a very small nominal fee like 1 euro a year.
In the UK however some companies went around buying up these land rights and offered them for sale to the homeowners for thousands and/or putting up the ground rent. It was a nasty idea and a money grab. People thought they were going to do the same here hence UK landlords of Irish land was a fuss. However they couldn't do the same here due to our laws. It still caused people to be upset as they realised old property rights still existed and some of it was public parks. I think it was mostly a Cork issue.
The cost in Ireland is the legal fees to change ownership but if done as a group it is way cheaper. No idea what the statement on the school is
I was involved in this situation around the late 70s or 80s, what you are saying sounds right, though I am sure we paid a good bit more than €1/£1 I can't remember what, and it didn't cost us 1000 to get out of it, that would have been a huge sum considering we paid around 7k for the house - an estate in Kilkenny. I had an idea our landlord was in the UK, but there was such overwhelming levels of plain lies and corruption at the time (the builder was a total conman) that you would be hard pressed to know what was the truth.
Fee simple is synonymous with 'freehold' as the latter is defined in modern land law. Essentially it means that the owner owns the parcel of land directly and outright with no conditions or limitations (other than statutory restrictions like planning laws, environmental laws, etc. that apply generally to any property), as opposed to a 'leasehold' where the land itself is owned by another person or entity (e.g. a management company, a trust, a local authority, etc.) and is occupied under a lease (usually a very long lease; initial periods like 999 years are typical for modern leaseholds).
A freehold is obviously the most desirable ownership arrangement, since it places no additional limitations on one's use of the property or the term of ownership and no obligations to any other party. With a leasehold, the actual freehold owner of the property in question may be owed rent or other fees set out in the lease, and they may place restrictions on what can be done with the property, or even decline to renew the leasehold lease when it expires (not usually an issue with modern leases that have periods of hundreds of years, but it can be an issue with older leaseholds that were only for a hundred years or sometimes less and could be coming up on their expiration date in the near future).
Some types of properties are generally only sold on a leasehold basis out of necessity (e.g. individual units in a multi-unit dwelling, since they generally occupy the same land and same building as other units, physically can't be owned by different parties on a freehold basis, so the owner's management company generally holds the freehold ownership of the land and building and the apartment units themselves are leaseholds), while others are simply holdovers from decades ago when leasehold ownership was the norm. In the latter case, it is often possible to "buy out" your leasehold from the actual freehold owner and acquire freehold ownership of the property yourself; if you bought the leasehold property after 1978, you are in fact legally entitled to do so.
Most houses in the North are leasehold still. My own included. Some Lord in the UK owns the land but we've never been asked for the ground rent on it. If it's ever asked for we'll look into buying it out.
My MIL bought out her lease from Lord Bumfluff or whatever his name was. I think it cost her a few thousand. But again, that's UK law so obviously more expensive.
It says "fee simple free of rent", maybe the estate agent is too lazy to proofread?
Ah, that explains it. I knew what freehold and leasehold meant, I didn't know fee simple was the same as freehold.
The sneakies built a larger house than they had planning for back in 2006, they successfully got retention for this in 2022. Farcical and only encourages more of this.
https://www.galway.ie/ViewExternalDocuments/ViewPDF.aspx?RefNo=2260575&ViewFind=true&ref=2410649
The planners report clearly spells it out
https://www.galway.ie/ViewExternalDocuments/ViewPDF.aspx?RefNo=2260575&ViewFind=true&ref=2415341
Did this last year, many of the houses in Shannon paid ground rent to SFADCo and now ground is owned by Clare Co Co. The council charged 1.27 (a Punt converted to Euro) but legal fees, land registry etc came to a total of about 600 Euro.
This house appeals to me:
I love the exterior.
I would make some changes to the interior (the kitchen would have to go, as would the terracotta tiles, and pine doors throughout) but that's doable.
House in Raheny with sea views out the back. Dear enough for a two bed.
https://www.myhome.ie/residential/brochure/51-the-village-bettyglen-raheny-dublin-5/4838794
You'd know by looking at it was built in the 2000s.
643B Howth Road, Raheny, Dublin 5 - Ventura Properties - 4759205 - MyHome.ie Residential
Another house in Raheny but i am very curious why no internal photos and its occupied but to be sold under terms unkown.
For viewing details it says access not possible, was reduced by €105,000. For sale by online auction unless sold prior.
Any ideas why this would be the case and who in their right mind would buy ?
That wouldn't bother me.
Me neither, it's just very distinctive.
that means it’s held as a freehold essentially with no monetary obligations to pay. Need to check whether there are any limitations as to use (it does not say fee simple absolute) but it’s about the best title you can get.
Regarding the two roomed Raheny house, for the price the estate agents are no doubt charging, you'd think their map extract in the photos would show where the house actually is. Their map shows it as in Bettyglen, accessible from the Howth Road, but it's actually in Bettyglen village, accessible from Watermill Road.
Not quite Howth and Howth Junction, but still misleading.
Most likely it's a repossessed rental property with an uncooperative (former) owner and a tenant who refuses to leave (and a fair chance that they aren't paying the rent any longer either). No internal photos because the occupant won't allow access, no doubt. The discounted price might make it attractive to an institutional investor who doesn't need it to generate any immediate cash flow and is happy to just let it sit and appreciate in value while their in-house solicitors go through the long eviction process to eventually oust the stubborn occupant.
have done everything from tiling to electrical work
Ah yea, Billy O'Sparks is your name by any chance. Always remember its brown to brown, green to earth and blue to bits.
No mention of vacant possession. Avoid.
5 bedrooms, sleeps 16?
It lists the bedroom details, there's a mixture of double and single beds in some rooms and a futon in the master bedroom as well as a bed.
Terrible photos.
What even website is it on. It must be targeting people from another country.
Never watched it either myself. And there I was thinking I was the only one.
Check out 6am. Crikey, and checkin for the next lot also at 6am. No cleaning?
Not a house/apartment but the person who did the write-up for this deserves a Booker Prize.
https://www.daft.ie/commercial-property-for-sale/geoghegans-night-club-bar-and-res-high-street-tuam-co-galway/5390474
Oh wow. Worked there casually ages ago. If id read the blurb blind I would not in a million years guess it 🤣
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