Pre Contract Investigation of Title
A new conveyancing system takes effect from New Year’s Day 2019.
Making conveyancing more efficient
From 1 January 2019, a faster, more efficient and cost-effective system for buying and selling property will be introduced in Ireland. The new ‘pre-contract investigation of title’ (PCIT) system will improve the conveyancing process by ensuring any questions relating to the property’s title are raised and resolved before the contracts are signed.
The new system is a fundamental change to the legal practice and procedures involved in buying and selling property. It has been designed by the Law Society of Ireland, in consultation with solicitors, based on changes in practice and a drive to improve efficiency and greater transparency in the conveyancing process. The new process is more transparent because any issues are fully revealed before one is “locked into” the contract.
For more information, read the 6 December press release: a faster, more efficient way to buy and sell property
Resources for solicitors
The Conveyancing Committee of the Law Society has worked with practitioners to develop new precedent Contract for Sale and Objections and Requisitions on Title documents. These are available on both the ‘Precedents’ sections of the website, and the Committee page.