Thursday 23 November 2017

When family and farms split...

John (50) and Claire (46) realised their marriage was over after 20 years and came to a reasonably amicable agreement about how to divide their 100-acre farm.

John's farm was very fragmented so they agreed that Claire would get a cash settlement of €200,000 and the family home.

John agreed to sell a residential site and give Claire the proceeds but despite a good location close to the nearest town, the site has been on the market for over two years without selling.

Now Claire is demanding her €200,000 but John cannot get any finance from the bank to pay her.

At current land prices, he could end up having to sell up to 25 acres to generate €200,000 instead of just a half-acre residential site.

Irish Independent

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