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GAZETTE
DECEMBER1980
CONVEYANCING
NOTES
Due to a printing error the following note appeared
incorrectly in the October Gazette. It is reprinted here in
full.
Section 46(i) Local Registration of Title (Ireland* Act,
1891
At the Conveyancing Seminar in Blackhall Place held
on Saturday the 27th September a Solicitor asked as to
whether there was an obligation to register a Lease in the
Registry of Deeds in the following circumstances. The
freehold title was registered in the Land Registry on a
freehold Folio and a Lease for more than twenty-one years
had been granted of part of the lands in the Folio prior to
the 1st January 1967 (the date of the coming into force of
the Registration of Title Act 1964). No leasehold folio had
been opened in respect of the leasehold interest and the
Lease had not been registered in the Registry of Deeds. The
Solicitor concerned had then been asked to have the Lease
registered in the Registry of Deeds but felt that it was
unnecessary to do so.
The speakers' panel expressed the view that registration
in the Registry of Deeds was not necessary although all
subsequent documents dealing with the leasehold interest,
including Assignments and Mortgages would of course
have to be so registered but were unable to quote the
precise authority for their view. Mr. Desmond Moran
volunteered what turned out to be the correct answer
namely that there was a specific section in the Local
Registration of Title (Ireland) Act 1891 which dealt with
the position. Section 46(i) of that Act provides
"Registration of a burden under this Act shall have the
same effect as, and make unnecessary, registration of any
deed or document relating to such burden, in pursuance of
any other public general or local and personal Act of
Parliament or of any Provisional Order confirmed by
Parliament, but in case of a leasehold the ownership of
which is not registered in any subsidiary register under this
Act, such exemption from the necessity of registration in
pursuance of the Acts relating to the Registry of Deeds
shall extend only to the lease itself, and not to any other
deed or document relating to the title to a leasehold."
1
On the commg into operation of the Registration of Title
Act 1964 the position changed radically in that it then
became obligatory to open new leasehold Folios for ány
leasehold interests for more than 21 years.
In view of the fact that there was some confusion as to
the correct position the Conveyancing committee felt it
might be helpful to publish this note clarifying the position.
COUNCIL RECOMMENDATION — 'Interest on
Client Accounts'.
The Society recommends that when a Solicitor holds or
receives for or on account of a client money on which,
having regard to all the circumstances (including the
amount and the length of time for which the money is likely
to be held) interest ought in fairness to the client be earned
for him, the Solicitor shall either:
(a) Deposit such money in a separate designated
account and account to the client for any interest earned
thereon or
(b) Pay to the client a sum equivalent to the interest
which would have accrued for the benefit of the client if the
money had been deposited in a separate designated
account.
The Solicitor is entitled to charge fees for any work in
relation to the placing of the monies on deposit or
accounting to the Revenue Commissioners for interest
earned.
Independent Actuarial Advice regarding
Interests in Settled Property
and
Claims for Damages
BACON & WOODROW
Consulting Actuaries
58 Fitzwilliam Square
Dublin
2
(Telephone 76203 1)
SKYPAK
International Ireland Ltd.
143 Lower Drumcondra Road,
Dublin 9.
Telephone 376758 - 378371.
Telex: 31312.
& Couriers to the Legal World.
Specialist in Document Handling.
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