Sale of Real Property The process of transferring ownership of property is known as conveyancing. Only a Practising Solicitor may prepare and draw documents relating to the transfer of real or movable property; procure or attempt to procure the execution by an Irish citizen or document relating to real or movable property outside the Republic of Ireland and the United […]
Planning Issues The general planning legislation status of the property should be ascertained. See the separate sections in relation to planning law compliance. The development plan will identify the zoning and the broad types of development which might be developed subject to planning permission. In some cases, this may not be an issue such as where an existing fully developed […]
Relationship to Contract When a contract of purchase is signed, the buyer commits himself unconditionally to buy the property in its actual state and condition subject to the terms and conditions of the title and ownership and the other matters set out in the contract. In the case of an auction, the highest bidder will be obliged to buy and […]
Contract and Title Issues A buyer is deemed on notice under the standard conditions of the terms of title on which the property is held. This may include, for example, the terms of the lease under which the property is held, and covenants, rights, conditions, liabilities and restrictions in the title listed in the draft contract. He is deemed bound […]
Overview Requisitions on title are usually undertaken by use of the standard Law Society form with case-specific additions. The investigation of title in the sense of title as ownership is set out in a separate chapter. This chapter concerns many ancillary matters which are highly relevant to property ownership which is not objections or requisitions in the sense of the […]
Tax Requisition 17 asks the tax residence status of the seller. It also asks whether certain directions have been made by the Revenue under anti-avoidance legislation in respect of the sale. There exist certain tax provisions whereby resident buyers may be obliged to deduct tax in on payments to sellers. They are very rarely encountered. There exists a little-used power […]
Planning and Development Requisition 27 deals with planning and development legislation. See the separate sections on this legislation. A buyer will want assurance that the property which he purchases is compliant with planning permission and is not vulnerable to enforcement either by the local authority or a third-party. The requisition seeks information in relation to the status of various works […]
Contract Law The basic rules of contract law apply to the formation, interpretation, fulfilment, and breach of contracts for the sale of land. See generally the sections on contract law in relation to these issues. A contract for the sale of land must be evidenced in writing signed by the person against whom it is to be enforced. There are […]
Commercial Terms and Memorandum of Sale I The contents of the contract of sale are a matter for agreement between the parties. The parties are largely free to determine the terms of the sale and reflect them in a document as they see fit. In practice, the vast majority of sales are governed by the Law Society of Ireland General […]
Duty to Deduce Title It is the duty of the seller of the property to prove that there is a good title to the property. This duty is regulated by the terms of the sale contract. Generally, however, a seller may not simply enforce an illusory, non-existing title on a buyer, by so providing by contract. In the current sense, […]
General The process of investigation of title involves the review and examination of the seller’s title with a view to ascertaining that he is in a position to give so-called good title to the buyer. The process is more complex in the case of the unregistered title. In the case of a registered title, the process is greatly simplified. In […]
Interests of Seller and Buyer Prior to 2009, the position following a majority Supreme Court decision, was that the buyer obtained a beneficial interest in the property to the extent of the purchase price paid. The Supreme Court minority followed the traditional view that the buyer obtained a beneficial interest in the whole property upon signing a contract, albeit one […]
Completion of the contract The terms of completion are governed by the contract. The sale shall be completed and the balance of the Purchase Price paid by the Buyer on or before the Closing Date. Completion usually involves the furnishing of vacant possession of the property in return for payment of the purchase price. It will also involve the delivery […]
Enforcement of Land Sale Contracts Issues arise in relation to the enforcement of the purchase/sale contract on the part of both buyer and seller. The seller has a significant remedy in that he may forfeit the deposit for breach. There is no equivalent sanction available to the buyer where the seller is in breach. A person enforcing a contract may […]