Buying or selling a farm can be a stressful and complicated process. Often the emotional attachment someone has to a family farm is a huge hurdle to overcome.
A good solicitor will realise the depth of emotions involved and their priority should be to ensure that the whole process is expedited in a timely and smooth manner.
This process involves preparing the sales contract in order to ensure it is watertight and cannot be contested at a later date. It is essential that the land being bought or sold is correctly described and often involves identifying the boundary of a property from aerial photography or Google Maps if aerial photography is not available. It is essential that any encumbrances to land are fully disclosed in order to ensure the purchase or sale flows smoothly.
All water rights and rights of way must also be fully contained in the contract of sale as right of way have been at the core of many high profile legal cases in Ireland in recent years.
Another potential pitfall is failing to check that the correct buying and selling entities are correctly and accurately described in the contract.
Other important considerations which your solicitor will explore are the status of plant and equipment, crops, value added tax (VAT), tenant rights, and stamp duty implications.
There are many other considerations in addition to those mentioned in this article which need to be taken into consideration when buying or selling a farm property in Ireland.

If you wish to receive a free half hour consultation from one of our farming experts, please click here>>>>