The Gazette 1980

GAZETTE

APRIL 1980

It is also felt that, once the Companies Office has

expressed its approval of any proposed name, that name

should be reserved exclusively for the applicant for a

period of, say, fourteen days from the date of the

Companies Office's notification of such approval.

To whatever extent the implementation of any such

proposal may require a change in law, representations will

be made appropriately.

Arran House,

35 & 36 Arran Quay,

Dublin 7.

18th April 1980

The Editor,

The Law Society Gazette,

Blackhall Place,

Dublin 7.

Dear Sir,

It is a pity that so many of the profession, particularly

the younger members, so not seem to be acquainted with

the traditional mode of tilting a letter.

I always understood that in titling a letter one put

the name of one's own client first, for example, in acting

for a Plaintiff one would put Murphy v. Jones, but, if

acting for the Defendant, Jones v. Murphy. Similarly in

conveyancing when acting for the Vendor or Lessor it

would be Murphy to Jones, but, if acting for the

purchaser or Lessee, it would be Jones from Murphy.

Further the traditional method of amending documents

seems to be completely forgotten, which only adds to the

labour of all concerned when reading a number of

amendments. Again I understand the correct procedure to

be, the first amendment in red ink, the second amendment

in green ink, the third amendment in purple ink. If this

rule is followed in a document which is complicated and

has several amendments it is easy to immediately follow

the series of the amendments, when they were made and

by whom and this facilitates one's work.

I feel that I am not being pedantic in suggesting that

these traditional methods be observed, but that they

would simplify a great deal of correspondence and

amendments.

Yours faithfully,

Desmond Moran.

CONVEYANCING NOTE

Transfers between Related Persons

Application of 1% Duty

It has come to the notice of the Conveyancing

Committee that some practitioners may not be conscious

of the true position relating to the 1% stamp duty payable

on Transfers or Conveyances between related persons or

that such rate applies whether the transaction is a sale or

a voluntary transaction. In such transactions, to obtain

the 1% rate of duty

all

of the parties to the transaction

must come within the specified degrees of relationship,

that is the person or

each of the persons

becoming entitled

to the entire beneficial interest in the property on foot of

the Transfer or Conveyance must be related to the person

or to

each of the persons

who was or were immediately

therefore entitled, as a lineal descendant, parent,

grandparent, step-parent, husband, or wife, brother or

sister of a parent, or brother or sister, or lineal descendant

of a parent, husband or wife, or brother or sister. If there

is a person or persons involved in the transaction, either

as transferor/s or as transferee/s who is not within the

relationship specified, then the Transfer or Conveyance

will be liable to stamp duty at the full appropriate rate and

not at the 1% reduced rate.

The above principle applies, irrespective of whether the

property is transferred or conveyed to parties to hold as

joint tenants or as tenants in common.

Should a client wish to transfer property to a relative

and to a non-relative either as joint tenant or as tenants in

common, the use of two deeds will effect a saving in

Stamp Duty. For example, a father if he transfers

property to the value of £25,000.00p to his daughter and

her husband in one deed Stamp Duty will be payable at

4% and will amount to £l,000.00p. If the father transfers

to his daughter first, that deed will attract Stamp Duty of

£250.00p (1% of £25,OOO.OOp). The daughter can then

transfer a moiety to her husband which will attract Stamp

Duty of £125.OOp (1% of £12,500.00p) or nil if the

exemption in the Family Home Protection Act applies. If

the above transfer was made to a daughter and an

intended son-in-law in consideration of an intended

marriage between the parties, then the Stamp Duty

payable is limited to 5Op being the duty payable on

transfers in consideration of marriage. (See Sect. 74

Finance (1909/10) Act, 1910 as amended by Section 32

Finance Act, 1978).

Independent Actuarial Advice regarding

Interests in Settled Property

and

Claims for Damages

NAT IONWIDE INVESTIGATIONS

LIMITED

Working in closest co-operation with the

Legal Profession

126 Broadford Rise

Ballinteer, Dublin 16

01 9 8 9 9 64

BACON & WOODROW

Consulting Actuaries

58 Fltzwilliam Square

. Dublin 2

(Telephone 762031)