189 / 364
prices shortly after
issue and damaging
to national
credit as well as to the interests of individual holders.
The Council would be obliged for information as
to
the steps which can be taken to remedy the present
position.
As a subsidiary point
it was mentioned
that
the
costs of solicitors acting for owners are paid in land
bonds which are subject
to
the same disadvantages.
In many cases
the solicitors costs
include substantial
elements of outlay for counsels'
fees and other dis
bursements. It is noted that in contrast to this position
auctioneers' commission at 5 per cent on a sliding
scale is paid in cash.
2. Delays in the Irish Land Commission examiner's
branch.
The Society has received complaints from a number of
members as to delays in dealing with title matters. The
most recent complaint
is concerned with a case
in
which our members lodged the documents of title in
April last and received a reply stating that the matter
would be referred to an examiner as soon as possible.
They wrote to the Society on September 6th stating
that they had within the previous six weeks sent a
reminder asking for rulings on title. They received a
reply dated September 3rd regretting that
the case
had not been reached in its turn for reference to an
examiner for investigation. It appears to be altogether
unreasonable that four to five months should pass before
the
title can be referred
to an examiner and it
is
rather a sad commentary on the new scheme recently
set up following joint consulatation between the De
partment and this Society. We feel
that this
is not
an isolated case. The Council would be obliged for
full information on the position.
3.
Solicitors have experienced difficulties where un
dertakings are given
to banks and other bodies on
behalf of clients who expect
to
receive payment in
land bonds for lands compulsorily acquired. In one
case which is probably fairly typical an old client of a
solicitor agreed
to sell his
lands
to
the Commission
and in order to give possession bought a house in the
adjoining town to take up immediate residence. He had
no ready means of financing the purchase and obtained
and advance from a bank who required an undertaking
from the solicitor that the loan would be repaid. The
solicitor gave his undertaking and relied for repayment
on the land bonds to be issued in due course.
In cases such as this the land bonds are issued in
the names of the client care of the solicitor. Cases may
occur in which the client may emigrate or may have
no further financial interest in the land bonds after he
has obtained the necessary financial facilities and the
solicitor may be in difficulty in obtaining control of
the bonds for the purpose of sale in order to carry out
his undertaking.
It will be appreciated that in a number of cases
owners who sell out
to
the Land Commission sub
sequently emigrate. In a certain number of cases there
is a risk that they may not facilitiate the solicitor in
realising the bonds.
The Council will be obliged if the Land Commission
could find some method which would enable the solicitor
in such a case to obtain control of the bonds for the
purpose of realising his security. Were it not for the
facilities given by solicitors in such cases clients would
be placed at a serious disadvantage and it is
in the
public interest that solicitors should be facilitated in
providing
these
guarantees.
Banks
throughout
the
country look
to solicitors rather than
to
the client
and needless to say the Society holds a solicitor strictly
responsible on a personal undertaking of this kind.
The Society will be obliged for a full reply when
these matters have been considered.
Yours faithfully,
ERIC A. PLUNKETT,
Secretary.
"THE LAW OF STAMP DUTIES"
SECOND REVISION
Further supplementary pages have now been
published — price 12/6 (postage 2/- extra). This
SECOND REVISION incorporates the provisions
relating
to
Stamp Duties
contained
in
the
FINANCE ACT,
1965,
and
in
non-Revenue
Statutes passed in the year 1964. Section 45 of
the Land Act, 1965, which restricted the vesting
of interests in agricultural land, has also been
included.
A further appendix has been added of tables
of the
ad valorem
duties on conveyances, trans
fers and leases of lands, etc., chargeable since
the 1st January, 1892, when the Stamp Act, 1891,
came into operation.
The original volume and
the First Revision,
which
together contain previous enactments re
lating to Stamp Duty, cost 75/6
(postage 3/3
extra).
AVAILABLE
from
the Government Publications Sale Office,
G.P.O. Arcade, Dublin, 1.
THE REGISTRY
Register A
Qualified Assistant wanted
for general practice
in
Dundalk. Replies with details of experience to—Box
A234.
Register C
RETREAT—Enclosed Retreat
for Solicitors
(1966)
Jesuit House of Retreats, Milltown Park, Dublin.
Saturday night, 5th March
to Monday morning,
7th March. For reservation apply—John B. McCann,
Wakefield House, York Road, Dun Laoghaire, Co.
Dublin.
Dunne—William J. Dunne late of Main Street, Abbey-
feal, County Limerick and formerly of New York,
died on the 12th October, 1965. Will any person
knowing the whereabouts of a will made by the above
deceased
please
communicate
with—Maurice
J.
Woulfe & Son, Solicitors, Abbeyfeale, County Lime
rick.
83