Fair Deal/Nursing Homes After year 14 when the asset value has covered costs

[legal33]

Hi,

What happens at year 14 in the Fair Deal Scheme when over 100% of a land asset (which does not qualify for the 3 year land cap) has contributed to the cost of care?

Is the land revaluated so that say if it has increased in valued from €400K at initial valuation in year 1 to €500K in year 14, that the 7.5% per annum continues to be deducted from the additional €100K ?

Thanks,

 

[twofor1]

I don’t think anything happens, assets other than the family home are assessed indefinitely. You will pay 7.5 % of the original land value for all years, regardless of how long that is.

Apart from the family home, farms and small businesses, with some conditions attached are recently being allowed to avail of the 3 year cap.

The HSE have the right to reassess at any time, but I am not aware of them ever doing so.

It is unlikely to be an issue, not many last 14 years, I think 3-4 is the average, one of my relations did last 9 years though.