Thursday 21 September 2017

Riches of the Nama wives who hold the purse strings

As Nama attempts to recover developers' debts, Ronald Quinlan looks at astute and timely asset transfers between spouses

THERE was a time when their names featured only in the society pages. Pictured alongside every successful developer at the latest black-tie affair or charity ball was his devoted wife, decked from head to toe in the style to which her husband's mastery of the universe had allowed her to become accustomed.

These days, if you're looking for a mention of the ladies who used to lunch, dining out on the eye-watering profits of bricks and mortar, you might be better served paying a visit to the Registry of Deeds.

It's there that you'll find the names of the developers' significant others, attached to the deeds of conveyance drawn up to variously transfer family homes, bundles of apartments and tracts of development land into their names prior to the establishment of the National Asset Management Agency (Nama) -- and all for 'natural love and affection', as the legalese so eloquently puts it.

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