It has come to the attention of the DSBA Conveyancing Committee that there are certain practices emerging from financial institutions that are not agreed or form part of the new Certificate of Title System (2009).

Bank of Ireland and ICS Building Society are requesting solicitors to sign a declaration confirming that they have professional indemnity insurance for commercial undertakings and to undertake to continue to hold such insurance for a certain period of years. Obviously, such an undertaking is outside the control of a solicitor.

The committee feel it is necessary to advise practitioners that such a declaration is not an agreed form and to refuse to sign such an undertaking or to strike out the offending clauses contained therein. The Committee have set out below the most recent practice note of the Law Society Conveyancing Committee in relation to emerging practices by lending institutions. To view click word document below

 Click here to download Law_Society_Practice_Notes_Feb2010.doc (24 KB)
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