Real Estate

LAND REGISTRY PRACTICE

Receiver and charge holder sales

The Law Society of Ireland Conveyancing Committee has drawn solicitors’ attention to the fact that the Land Registry is withholding completion of title registration in some receiver sale cases based on the High Court judgment in Bank of Ireland v Hade (Bank of Ireland Mortgage Bank v Niall Hade and Joyce Hade (2014/1416S) and Niall Hade v Bank of Ireland Mortgage Bank and Michael McAteer (2014/4328P) - currently under appeal).

In relation to sales by the registered owner of a charge, the Committee also issued a recommendation that solicitors should not provide certificates to the Land Registry to the effect that a charge is not a “housing loan mortgage” within the meaning of the Land and Conveyancing Law Reform Act 2009 and that the registered owner did not act as a “consumer” within the meaning of Consumer Credit legislation on the property transfer date. These matters are likely to be beyond the knowledge of solicitors representing the vendor/charge holder and the purchaser. Further information is available here.

LEGISLATION

Valuation of relevant public lands to be sold to the Land Development Agency

The Land Development Agency Act 2021 (Valuation of Relevant Public Land) Regulations 2023 deal with the valuation of relevant public lands to be sold to the LDA by other relevant public bodies under the provisions of the Land Development Act 2021.

Under the Regulations, Tailte Éireann (a new centralised agency created from the merger of the Property Registration Authority, the Valuation Office, and Ordnance Survey Ireland which already has responsibility to carry out valuations in respect of intra-state transfer of state property assets) has been appointed as the entity responsible for valuing the relevant public lands.

The Regulations prescribe:

• procedures for nomination of a person to determine the market value of the land;
• the relevant experience, qualifications, professional body membership that may be required, training or expertise required to be held by a person nominated under the above procedures;
• procedures and time limits to apply, including in relation to requests for further information or the giving of a notice of the determination; and
• fees and costs, if any, to be paid, and to and by whom, in respect of the determination.

The Regulations utilise the Existing Use Value method of valuation used under Part V of the Planning and Development Act 2000, that is the value of the land calculated by reference to its existing use on the basis that, on that date it would have been, and would thereafter have continued to be, unlawful to carry out any development in relation to that land other than exempted development.