asked the Minister for Lands what is the average time which elapses between the date when the purchase price is fixed in the case of compulsory acquisition by the Land Commission and the date upon which the Land Bonds representing the price are actually transferred to the person entitled to receive the same.
Ceisteanna—Questions. Oral Answers. - Compulsory Land Acquisition: Transfer of Bonds.
24.
In compulsory acquisitions under the Land Acts the payment of purchase money arises from the "Appointed Day" which is normally the date possession of the land is obtained by the Land Commission.
From the "Appointed Day" to the date of payment instructions to the bankers, the average time-lag in recent cases has been about 27 months.
Does the Minister not consider that the average of 27 months indicates undue delay? If he does agree with me that it does suggest undue delay, would it be right to say that the delay is largely resultant, on the investigation of title? If that is so, would the Minister consider employing outside help in this matter of investigation of title or, in the alternative, adopting a system commonly operated in the United States of insuring against title defects and thus expediting the issue of the Land Bonds?
I agree that the delay is appalling but I should like to point out that of the 27 months, so far as I can judge, only two months would be attributable to Land Commission delay. The greater portion of the delay arises from owners and their solicitors not expediting proof of title. At the moment I am in consultation with the Law Society in the hope of simplifying this procedure and getting over this time lag.
I am much obliged to the Minister. Would he not, in the course of his talks with the Incorporated Law Society, consider the possibility of introducing a system of title insurance?
That, among other matters, is under consideration.