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Land Purchase Annuities.

Dáil Éireann Debate, Thursday - 28 October 2004

Thursday, 28 October 2004

Questions (292)

Jack Wall

Question:

292 Mr. Wall asked the Minister for Agriculture and Food if a person (details supplied) in County Kildare can purchase the ownership of the lands outright rather than by instalments; and if she will make a statement on the matter. [26699/04]

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Written answers

The folio mentioned in the question is subject to a land purchase annuity. This annuity may be redeemed in a lump sum and to arrange this, the annuitant should contact the collection branch of my Department at Davitt House, Castlebar. In the Land Bill 2004, which I propose to bring before the Dáil shortly, there is provision for a discounted, 25% buy-out scheme for annuities, which would be of financial benefit to the person named once the Bill is enacted and the scheme is introduced.

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