What happens after you purchase your property: The Registration Process

Cosgrove Gaynard Solicitors

An Australian court ordered KENTUCKY FRIED CHICKEN to pay the equivalent of €6.5 million euros in compensation* to a girl who suffered severe brain damage from salmonella poisoning after eating a chicken meal from the restaurant.

Once a property has been purchased and keys have been exchanged, the conveyancing process does not end here.

 

After closing, the stamp duty will then be paid on the property. Once the stamp duty is paid the registration process will begin.

 

There are two registration systems in Ireland:

 

1. The Registry of Deeds (called unregistered property)

2. The Land Registry (called registered property)

 

This distinction can be important before purchasing your property as different fees apply and also the timeframe can be significantly longer.

 

The Registry of Deeds is an older system however the aim is for everything to eventually be registered in the Land registry. It is now compulsory to register an unregistered property in the land registry post closing.  Therefore if the property is unregistered land then the Deed must be first registered in the Registry of Deeds, once returned a first registration application must be made to the Land Registry.

 

Once registration is complete, a certified copy folio & file plan will be furnished from the Property Registration Authority showing you as the registered owners. This is an important document and will become part of the title deeds of the property.

 

Your title deeds will now be scheduled and returned to your mortgage provider where they will be kept until the mortgage is discharged. If you do not have a mortgage over the property, the deeds will be returned to you or held by your solicitor if so instructed.

All news
Have you suffered an injury onboard an airplane?

Cosgrove Gaynard Solicitors set out what your rights are if you have been injured in the course of air travel.

Text Link
ePrivacy Regulation

A further regulation called the ePrivacy Regulation is being proposed to come into effect next year to further protect privacy in regard to electronic communications.

Text Link
Landmark judgment for the treatment of social media data in German court - digital assets

Landmark case for the inheritance of social media pages and other digital assets.

Text Link
Are Ethereum tokens a security?

It is really not for the SEC to determine whether tokens are security; this is to be determined by legislation or for the courts to determine. To date no court has determined whether or not tokens are deemed to be securities. That said it is clear that the SEC has interpreted the matter and are finding tokens to be securities. There is a case currently ongoing in New York which may however become the first court in the world to rule on whether or not tokens are deemed to be securities.

Text Link
Why ICO & Why ICO in Ireland?

Initial Coin Offerings (ICO's) are not just for technology companies . They are often the beginning of a digital revolution for existing Companies which are already established In their field whether it be healthcare, insurance, property or another industry. Despite some bad press, the tightening of regulation in jurisdictions such as in the US, and indeed Facebook and Twitter banning advertisements , money has been pouring into the ICO market with $3 billion raised through ICOs in the first two months of this year. This is half the value of all funds raised throughout 2017, according to Coindesk data.

Text Link