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Land Transfer

  • 15-10-2019 6:22pm
    #1
    Registered Users Posts: 14


    Hi there, just looking for advice on the following. My Father owns about 60 acres and is looking to transfer a parcel of it about 20 acres to myself ( we are not farming it or anything), can we just go to a Solicitor to do this and outline to him on our Land Registry maps the land in question or do we have to get out an Engineer/Surveyor to outline the lands involved first. Thanks


Comments

  • Registered Users Posts: 372 ✭✭JD1763


    We completed a land transfer recently and the process was:

    1) Surveyor to map land and mark out boundaries of parcel to be transferred. The surveyor will then prepare the appropriate maps for submission by your solicitor to land registry when registering the parcel in your name.
    2) Valuation of the land by local estate agent.
    2) We had to get separate solicitors - one to represent my parents and one to represent us. Solicitors are not permitted to represent both sides even where the transfer is a gift. Our solicitor had to obtain copies of the original folios and maps as part of the process. Solicitor will draw up contract for the transfer and indicate whether its a gift or for an agreed payment. They will also remit the stamp duty charge (if applicable) to Revenue - the charge will be based on the valuation of the land and there are different rates applied by Revenue. As ours was a gift within the exemption thresholds no other taxes were applicable but you'll need to get proper advice on taxes such as CGT and CAT.
    3) Once contract signed by both parties, solicitor can register the new folio with land registry and send you a copy.

    Think this was the entire process - but if I've gotten anything wrong I'm sure someone else more qualified in this area will point it out!


  • Registered Users Posts: 12,163 ✭✭✭✭Calahonda52


    OP: the CAT and CGT are self assessment so don't let the solicitors insist that they do it... for a fee

    “I can’t pay my staff or mortgage with instagram likes”.



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