Dáil Éireann Debate, Wednesday - 10 November 2004
237 Mr. R. Bruton asked the Minister for Justice, Equality and Law Reform if he has undertaken a study of the conveyancing cost here compared with other EU countries both in respect of initial purchases and top-up mortgages or mortgage switching; if he has satisfied himself that the legal costs imposed are justified and are not unnecessarily inhibiting competition; and if he will make a statement on the matter. [28448/04]
Amharc ar fhreagraNo such study has been undertaken by my Department. However, my Department has undertaken an ambitious joint project with the Law Reform Commission with a view to reforming and modernising our land law and conveyancing law. The aims of the joint project will be to: simplify land and conveyancing law and improve its presentation to make it more easily understood and accessible for practitioners and the public alike; update the law to accommodate changing social, demographic and economic needs, including new forms of property ownership; and make the conveyancing of property easier and faster with a view to reducing burdensome costs and delays.
On 28 October, I launched a Law Reform Commission consultation paper entitled, Reform and Modernisation of Land Law and Conveyancing Law, which contains more than 90 draft recommendations designed to update and streamline this important area of law. Publication of the paper completes the first stage of the project and it is being followed by the consultation stage, which will run until 31 December. The third stage will involve the drafting of a Bill, or Bills, to give legislative effect to recommendations for reform.
It is my intention to introduce proposals for draft legislation to give effect to the commission's final recommendations next year. The new legislation will repeal approximately 150 pre-1922 statutes — the earliest of which date back to the 13th century — and replace them with a modern law of property that will meet the needs of the 21st century. The ultimate objective of this project is to facilitate the introduction of an electronic conveyancing system as soon as possible.
