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Land in 3 names

  • 18-01-2021 10:41am
    #1
    risteard7
    Registered Users Posts: 879 ✭✭✭


    Myself and two brothers have been left land in all our names. They have houses built elsewhere already but I am planning to build on the site which they have no problem with.

    To get a mortgage would I need the site in my own name or does it matter?


Comments

  • #2
    sydthebeat
    Subscribers Posts: 40,969 ✭✭✭✭sydthebeat


    risteard7 wrote: »
    Myself and two brothers have been left land in all our names. They have houses built elsewhere already but I am planning to build on the site which they have no problem with.

    To get a mortgage would I need the site in my own name or does it matter?

    Yes you would.

    You don't have to start that process until after you have been granted permission


  • #3
    nuac
    Moderators, Society & Culture Moderators Posts: 6,769 Mod ✭✭✭✭nuac


    Mod
    Your other two brothers will have to consent in writing to your application for PP.


  • #4
    Mrs OBumble
    Registered Users Posts: 25,666 ✭✭✭✭Mrs OBumble


    nuac wrote: »
    Mod
    Your other two brothers will have to consent in writing to your application for PP.


    And you will have to stay on the right side of them for the rest of your life, or they will decide to do things with the property which badly effect your home.

    Joint ownership of land causes problem, every time.

    Come to an agreement, which makes you sole owner of the land you want to build on at least.


  • #5
    Peregrinus
    Registered Users Posts: 26,052 ✭✭✭✭Peregrinus


    The sequence of events is:

    1. All three landowners apply for PP for the house that is to be built.

    2. PP is granted.

    3. Land is subdivided so that OP gets to be sole owner of plot on which house is to be be built. [Make sure plot has access to public road.]

    4. OP builds house on (what is now) his land.


  • #6
    Marcusm
    Registered Users Posts: 10,183 ✭✭✭✭Marcusm


    Peregrinus wrote: »
    The sequence of events is:

    1. All three landowners apply for PP for the house that is to be built.

    2. PP is granted.

    3. Land is subdivided so that OP gets to be sole owner of plot on which house is to be be built. [Make sure plot has access to public road.]

    4. OP builds house on (what is now) his land.

    I would be conscious of the CAT and CGT consequences of that sequencing although it might be commonly used. Once the PP is granted, the particular parcel of land will likely have a greater value. The exchange of an interest in the whole in return for an absolute interest in a part of it is a disposal for CGT purposes%


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