Divorcing Your Irish Lands

We all know divorce has some predictable consequences, but there is an unprecedented development in Ireland among divorcing couples. A rising divorce rate, coupled with skyrocketing land values, has meant splitting couples are unable to make a clean break.

Because neither party can buy out the other at today's inflated real estate prices, couples are being forced to sell their property as part of divorce settlements. Thousands of acres of family farms are being sacrificed at land auctions in order to get quick sales.

One agricultural consultant predicted that in the next year, more land will be coming onto the market because of marital breakdown. Some couples, although legally and emotionally separated, are staying together to save the property.

This is not the best way to get on with your life. It may be desirable for the custodial parent to stay in the marital home, but not economically feasible, given rising taxes and maintenance.

In the states, with a decline of real estate prices in many parts of the country, resale is a struggle. If the property is not sold, the parties will not have the capital to make a new purchase.

For non-married co-habiting couples, the problem of jointly-held real estate, becomes even a bigger headache when they want to split. If a buy out is not possible, they may have to stay together, living separate lives.

The ironic twist is that the rising real estate prices actually prompted some of the divorce actions. It was believed that there would be sufficient money to be divided among the parties, to allow for new beginnings. As real estate sales decline in this changing market, divorce may have positive as well as negative consequences.

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