Law Society form of accountable trust receipt (ATR)
The Conveyancing Committee, in response to a large number of complaints it has received from solicitors about the form and content of ATRs being used by some lending institutions, has drafted a form of ATR that it believes it can recommend both to solicitors taking up deeds on ATR and to lending institutions releasing deeds on ATR either directly or through their own solicitors.
The format has not yet been agreed by the committee with any lending institution, but the committee intends making representations to lending institutions, through the Banking and Payments Federation Ireland, that they would adopt the use of the Law Society recommended format of ATR as soon as possible. The committee will issue a further announcement if the new format is adopted by the lending institutions.