paperwork and cost of site??

jakko86

Hi all iv just got a site as a gift from an uncle and was just wondering what the cost of getting the site put in my name would be and how much hassle it is or whats the procedure?

jakko86

anyone?

muffler

Not exactly the best type of thread for the Prices/cost forum (more for construction materials & labour prices) but as there have been no replies I'll move this over to the accommodation and property forum.

engineermike

Hi,
Land registry info:

There are two separate systems for recording transactions in relation to property in Ireland:

• The Registry of Deeds system operated by the Registry of Deeds.
• The Registration of Title system operated by the Land Registry.

Both systems are under the control and management of the Property Registration Authority. The two systems are mutually exclusive in the sense that in a particular transaction relating to land the title will be either:
• “unregistered” (i.e. the title is not yet registered in the Land Registry and so the Registry of Deeds system applies) or
• “registered” (i.e. the title has been registered in the Land Registry and so the Registry of Deeds system is irrelevant).
Approximately 93% of the land in Ireland is registered which represents almost 90% of titles. The primary function of the Registry of Deeds system is to provide a system of recording the existence of deeds and conveyances affecting unregistered property. A failure to register may result in that document losing priority to a subsequent document which is registered. A search in the Registry of Deeds will disclose only whether documents have been executed dealing with the land in question – to discover the effect of these documents the documents themselves (which are not retained by the Registry of Deeds) will have to be examined.
When a title is accepted for registration in the Land Registry the original title documents are retained and permanently filed. A folio is opened in respect of the property and generally it is not necessary to refer to the original title documents again. A certified copy of this folio can be obtained with or without a copy of the map outlining the property.
The title shown on the folio is guaranteed by the State which is bound to indemnify any person who suffers loss through a mistake made by the Land Registry. A purchaser can, therefore, accept the folio as evidence of title without having to read the relevant deeds.

A solicitor will run through the ins and outs of whats involved in more detail with you,
- P/m me if you want a recommend for a firm of solicitors I use
mike f

jakko86

Thanks mike and what expense am i looking at or does it depend on the value of the site?

engineermike

jakko86 wrote: »

Thanks mike and what expense am i looking at or does it depend on the value of the site?

It depends on the solicitor - and how well your paperwork is organized.
Ring around and ask a few different solicitors for a fee proposal - ball park even.
mike

muffler

jakko86 wrote: »

Hi all iv just got a site as a gift from an uncle and was just wondering what the cost of getting the site put in my name would be and how much hassle it is or whats the procedure?

Solicitors in Donegal would typically charge €600 - €1,000 excl. vat for a straight forward transfer of ownership. If the title isn't properly registered then it will cost a lot more.

Extra costs will include a valuation of maybe around €150 and mapping the site which could be another €100 - €150. You will also need to find out about what taxes, if any, that you or your uncle could be liable for.

wexford12

It would be about the same as if you were to buy it about €1000. Now the problem you might have is that our uncle who gave you the site will need a solicitor also so it may be the right thing to do to pay for his also

Cheap site even if you do pay both legal fees

StillWaters

You will be liable for gift tax, nil below 33,500, and 30% on the excess.

jakko86

so around a grand or so ill be looking at and ya rite thing to do to pay uncles costs also cheap site at that.. thanks everyone for yer replies.