Unsaleable 2nd property

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  • #43752
    gksmith
    Participant

    Hello all,

    I have a claim where a 2nd property is unsaleable due to flooding. Can this property be disregarded for 26 weeks or a reasonable amount of time?

     

    Thanks everyone

    #124321
    Chris Robbins
    Participant

    Gemma, you have two options.
    You can’t say it is ‘unsaleable’. The regs do not recognise such a situation.
    Your claimant can either puit it up for sale in its current condition (at a price that would reflect that) which would attract the temporary disregard, or alternatively give you a valuation based on its current condition which may be below the capital limit anyway.

    #124322
    Anonymous
    Guest

    No but I don’t think it matters. If it’s flooded then the value is effectively zero. The land may be worth something though?

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