Results 7,821-7,840 of 18,755 for speaker:Michael McDowell

Order of Business (9 Nov 2006)

Michael McDowell: Deputy Ó Caoláin asked me about the matter a fortnight ago.

Order of Business (9 Nov 2006)

Michael McDowell: The legislation has recently come into operation.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: Section 3 of the Conveyancing Act 1881 provides, subject to certain exceptions, that a purchaser is precluded from acquiring productions of any title documents stated or made before the time prescribed by law or stipulated in the contract for the commencement of the title or from making requisitions, objections or inquiry as to such prior title. The Law Society of Ireland's standard contract...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: These are minor drafting amendments involving the substitution of "exists" for "subsists" and "existing" for "substituting". The purpose of these amendments is to simplify the text with the use of more modern and commonly used English.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: Subsection (3) is intended to remove the existing need in a voluntary conveyance to use the words "onto and to the use of the grantee" in order to avoid the creation of a resulting use in favour of the grantor. It is a convention of current law that one must convey land onto and to the use of the grantee; otherwise, the law presumes there is a resulting use, which is a similar concept to a...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: This is another tactical amendment which is designed to clarify the meaning of subsection (2)(b)(i)(III). The amendment makes it clear that the intention of the provision is to refer to a prior signature being acknowledged rather than to the deed itself being acknowledged.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: Section 62 is intended to modify substantially the formalities for the correct execution of deeds. Subsection (1) abolishes the need for a seal in the case of execution by an individual, but a seal will remain necessary for corporations. It also abolishes the rule that authority given to another person to deliver a deed must itself be given by deed. This has already been done in regard to...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I do not know. I would say Senator Tuffy has seen the execution of many more documents than I have in my time because barristers rarely see them executed. I always thought witnessing a signature meant being physically present when the signature was carried out rather than coming in afterwards and somehow countersigning it at a later point. I may be wrong on that and I do not want to...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I am not saying this to embarrass anybody but I would have thought that if one sent a deed to one's client at home, asked him or her to sign it, return it to one's office and one signed the witness part one's self, technically speaking, one has not witnessed the signature. As Senator Jim Walsh said, it is a shortcut and in certain circumstances, one could end up in the soup. I may be wrong...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: This amendment to section 93 makes it clear that this section, which lays down general principles governing the exercise of a mortgagee's statutory powers and rights, is intended to apply to both legal and equitable mortgages. Moreover, an issue was raised recently in connection with the notice period in section 93(1)(c). I may wish to introduce an amendment in that regard on Report Stage.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I do not propose to accept the amendment because section 94(1) provides that a mortgagee shall not take possession of the mortgaged property without a court order, unless the consent of the mortgagor has been given. The amendment now seeks to impose a condition. Effectively, the consent would have to be given within the preceding year. This would mean the mortgagee — the building society...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I will examine the matter between now and Report Stage. However, the Senator is really suggesting that if one did execute a consent, it must be renewed annually to have any real effect. I would be loath to agree to such a proposition without careful consideration. However, I will consider it between now and Report Stage.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I agree with the general proposition advanced by Senator Jim Walsh that one should not have a situation in which one can simply realise one's interest in a property and effectively throw the property to the wolves without securing anything for others who might still have a residual interest in it. However, section 99 provides that: In the exercise of the power of sale conferred by this...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I am happy to accept amendment No. 50. In respect of amendment No. 51, I have serious reservations about allowing ex parte applications. This section deals with cases in which the mortgagee has reasonable grounds for believing the mortgaged property has been abandoned. However, that may not be the case. Allowing an ex parte application could be open to abuse and would not be in the public...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: I am concerned it might open the door to sharp practice and that people would end up getting possession and getting an order in circumstances in which an injustice would be done to a person who had an interest in the property.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: Subsection (1) of this section sets out the order in which a receiver of mortgaged property is required to apply income received in respect of the property. It is proposed to delete subsection (2), which would have given the mortgagee the power to vary the order of categories of payment and could have created a conflict with the receivership law as it gives too much flexibility to the mortgagee.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: It is proposed to move section 113 to a new Part 12 of the Bill, in conjunction with amendment No. 68.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: It is proposed to delete section 115 because the company law review group is dealing with the issue of registration of judgment mortgages against companies and provisions to deal with this issue will be included in the company law legislation which is being prepared in this Department.

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: This amendment is intended to bring section 118 of the Bill into line with section 47 of the Statute of Limitations Act 1957, which provides that for the purpose of the extension of the limitation period in certain circumstances, such as disability or fraud, the date of accrual of a right of action on a judgment mortgage is the date upon which the judgment became enforceable and not the date...

Seanad: Land and Conveyancing Law Reform Bill 2006: Committee Stage (9 Nov 2006)

Michael McDowell: It is proposed to transfer section 119 to a new Part 12, as set in amendment No. 69. As regards the substance of the section, the writ of fieri facias is an old common law remedy which allows the sheriff to seize the chattels of a debtor on foot of an execution order. Courts have held that chattels in this context include chattels real. Chattels real include leasehold property. A...