Advertisement
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
If we do not hit our goal we will be forced to close the site.

Current status: https://keepboardsalive.com/

Annual subs are best for most impact. If you are still undecided on going Ad Free - you can also donate using the Paypal Donate option. All contribution helps. Thank you.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.

Land Registry Folio - Title

  • 29-12-2016 10:14PM
    #1
    andy125
    Registered Users, Registered Users 2 Posts: 1,596 ✭✭✭


    I took a look at a folio of a house we are interested in buying, Under part 2 Ownership its says Title - POSSESSORY FIAT 02-JAN-1959

    But in the box it says the person is the full owner

    In a previous folio on a different property i looked at it said Title - Absolute

    Im just wondering what it means when it says possessory fiat


Comments

  • #2
    GM228
    Registered Users, Registered Users 2 Posts: 8,917 ✭✭✭GM228


    andy125 wrote: »
    I took a look at a folio of a house we are interested in buying, Under part 2 Ownership its says Title - POSSESSORY FIAT 02-JAN-1959

    But in the box it says the person is the full owner

    In a previous folio on a different property i looked at it said Title - Absolute

    Im just wondering what it means when it says possessory fiat

    Possessory fiat = adverse possession.


  • #3
    andy125
    Registered Users, Registered Users 2 Posts: 1,596 ✭✭✭andy125


    Does that mean that the property can not be sold with possessory title until absolute title is registered?


  • #4
    NUTLEY BOY
    Registered Users, Registered Users 2 Posts: 2,347 ✭✭✭NUTLEY BOY


    andy125 wrote: »
    Does that mean that the property can not be sold with possessory title until absolute title is registered?

    The primary objective of a good and valid conveyance is to obtain clear title that is defensible against all comers.

    If the vendor does not have good title then there has to a question as to how they can validly convey ownership to the putative purchaser. Equally, if there is another party with a potential legal interest in the title the same question arises.

    This is precisely why the services of a solicitor are imperative in such transactions as these - even if it is only to advise the client, after searches on title and so on, to walk away...


  • #5
    Forbearance
    Registered Users, Registered Users 2 Posts: 88 ✭✭Forbearance


    In the rush to buy discounted distressed assets many vulture funds ( and indeed the solicitors acting for them ) have been found wanting in his regard. Litigants are discovering this with a simple trip to the PRA and a perousal of the instruments of transfer to these vulture funds. It appears that the courts require perfection of title as a requirement to issue a repossession order. If the said entities do not have perfection of title, the debtor can always raise the legal counter argument of jurisdiction and locus standi.


  • #6
    Graham
    Moderators, Society & Culture Moderators Posts: 17,642 Mod ✭✭✭✭Graham


    Forbearance wrote: »
    In the rush to buy discounted distressed assets many vulture funds ( and indeed the solicitors acting for them ) have been found wanting in his regard.

    When the OP said "a house we are interested in buying", I suspect that was in a personal capacity rather than as a representative of a 'vulture fund'.


  • Advertisement
  • #7
    Forbearance
    Registered Users, Registered Users 2 Posts: 88 ✭✭Forbearance


    Graham wrote: »
    When the OP said "a house we are interested in buying", I suspect that was in a personal capacity rather than as a representative of a 'vulture fund'.

    It does not make an iota of difference, the same rules apply in order to obtain perfection of title on conveyance.


Advertisement