A HOUSE which a court heard was worth €850,000 five years ago and is at the centre of a family split might be put on the market priced at its current valuation of €350,000.
Barrister Cathal Murphy told the Circuit Civil Court that Noel Goulding, who died in August 2006, had bequeathed his home at St Columba’s Road Upper, Drumcondra, Dublin, to his four daughters: Martina O’Reilly, Brid Slator, Mary French and Frances O’Connor.
Mr Murphy, who appeared for Martina, of The Drive, Cypress Downs, Templeogue, Dublin, and Brid, of Columba’s Road Lower, Drumcondra, said his clients had been appointed to handle the sale and division of proceeds equally among the four sisters.
Declan Wade, counsel for the third sister, Mary French, said she and her husband, William, still lived at the old family home in St Columba’s Road Upper, and the fourth sister, Frances O’Connor, lived in Florida in the US.
He said Frances, who was not a party to yesterday’s court case, had in 2005 swapped her quarter share of the family home with Mary and William French for two small land sites the French family owned in Florida.
Judge Joseph Mathews heard that unhappy differences had arisen between Martina and Brid and their sister, Mary, who had been living rent-free in the house.
Mr Wade said that in 2009, before property prices had dipped to their current low, Mr and Ms French had offered to buy the house from their father’s estate for €445,000 and to settle the issue of outstanding rent.
They claimed their offer had not only been refused but had been met with a Civil Bill seeking possession of the property and two years’ rent of €2,000 a month, totalling €48,000.
Mr Murphy told the court it was the duty of his clients, Martina O’Reilly and Brid Slator, as executors of the will, to settle up their father’s estate through sale of the house and recovery of rent.
They sought a court order for possession against their sister as well as judgment for outstanding rent.
Judge Mathews said 2006 property prices represented almost a different age in terms of today’s values.
He had heard experts on behalf of both parties value the outstanding rental at between €1,700 and €1,200 a month, but said the court determined the outstanding monthly rent to be €1,400, totalling €33,600.
Judge Mathews said the family disagreement was unfortunate and he granted possession of the house to the executors with a stay until June 30th next to allow the French family an opportunity to raise finance and make a new offer for the property.
He also directed that the €33,600 for outstanding rent be deducted from Ms French’s now half share of the proceeds of the sale.