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Southern Law Society
Barry M. O’Meara, T. A. Buckley, Edmund
Hayes, John B. Jermyn, P. J . Kavanagh.
Improvement Schemes under the Labourers’
Acts. Costs
T
he
Council considered and adopted a report from
a Committee on the subject o f a proposed application
to the Minister for Local Government for a new
order authorising increases in solicitors’ costs
under the Labourers’ (Ireland) Orders, 1914 to
1924 and directed that the necessary submission
should be drafted.
Purchase and Mortgage.
Lodgment o f
counterpart lease in Land Registry.
T
he
Council considered and adopted a report of
a Committee on questions submitted for decision
on the following facts :—
Firm A acted for the builder o f a house which
was sold to a purchaser who was separately repre
sented, the sale being by way o f a lease at a fine
and a rent. The purchaser borrowed part o f the
price from a lender who was represented by Firm B.
The sale was closed at A ’s office and the lease and
counterpart were handed to the purchaser’s solicitor.
The purchaser’s solicitor handed the lease and
counterpart duly stamped, to B without any express
comment or instructions. B lodged the lease and
counterpart in the Land Registry, which in due
course returned the original lease to B retaining
the counterpart. A acting for the builder is unable
to get back the counterpart which he claims is his
property. A and B had no dealings with each
other on this point prior to the completion o f the
sale and mortgage. A and B seek the opinion of
the Council on the following points and agree to
accept the Council’s ruling:—
(i) Were the lender’s solicitors entitled to lodge
the counterpart lease for retention in the Land
Reigstry or should they have procured and lodged
a certified copy for this purpose ?
(ii) Are the lender’s solicitors now bound at
their own expense to return to the builder’s solicitors
the counterpart lease ?
Report o f Committee:
In the opinion o f the
Committee the answers to the questions, as between
the parties, are as follows :—
(i)
■ The lender’s solicitors were entitled in the
circumstances disclosed to lodge the counterpart
lease for retention in the Land Registry and were
not obliged to procure and lodge
a
certified copy
for this purpose.
(ii)
The lender’s solicitors are not bound a
their expense to return the counterpart lease to the
builder’s solicitors.
Long lease not at rack rent. Costs.
O
n
a report from a Committee the Council decided
that the costs o f each o f the undermentioned leases
should be drawn on the scale appropriate to a long
lease not at a rack ren t:—
(i) A lease for a term o f 99 years at the yearly
rent of £ 15 n s . 3d. with the usual covenants and
conditions without any building covenant.
The
rateable valuation o f the property is £33. The
lessee had rights under Part 3 o f the Landlord and
Tenant Act 1931. The property was held under
a lease due to expire, for a long term subject to
the yearly rent o f £ 10
js .
6d.
(ii) A lease for a term o f 99 years subject to the
yearly rent o f £5 12s. 6d. and the usual covenants
and conditions without any building covenent.
The P.L.V. o f the premises is £7. The property
was held under a lease, due to expire, for a long
term subject 'to the yearly rent o f £ 3 15 s. and the
lessee had rights under Part 3 o f the Landlord and
Tenant Act 1931.
(iii) A lease for a term o f 99 years subject to the
yearly rent o f £4 is. and the usual covenants and
conditions without any building covenant. The
P.L.V. o f the premises is £5. The property was
formerly held under a long lease due to expire
subject to a yearly rent o f £2 14s. and the lessee
had rights under Part 3 o f the Landlord and Tenant
Act, 1931.
Interest on clients’ moneys.
M
embers
enquired whether they were liable to
account to clients for the interest on (
a
) the floating
balance o f clients’ moneys on which interest is
allowed by way o f set off against interest on over
draft on another account; (
b)
moneys placed on
deposit receipt. They pointed out that they are
not trustees o f this money and that considerable
expense was incurred for book-keeping transactions
and bank charges in connection with the clients’
moneys bank account. Reference was made to
the statements in
Solicitors Accounts
by Smart and
Blackwell, Pages 7, 8, 14 and 15 ; Cordery on
Solicitors, 4th edition, pages 210 and 2 11 ; and
the Attorneys and Solicitors (Ireland) Act, 1870,
Section 1-6-f>).
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