New Conditions of Sale 2017 edition
The committee would like to remind practitioners that the new 2017 edition of the Law Society’s Conditions of Sale was posted on the website in mid-December, with the recommendation that it be used for transactions commencing on or after 3 January 2017.
The accompanying explanatory memorandum, also posted on the website, sets out the main changes that have been made to the standard contract. Solicitors should familiarise themselves with these changes so they are aware of what the new contact terms involve.
In response to requests from the profession, the precedent Conditions of Sale have been made available for the first time in electronic format. Practitioners can download the precedent in fillable PDF format from the website and complete it on-screen.
As the committee intends producing future precedents in fillable PDF format, it would like to ensure it is suitable for the profession to use. Therefore, any feedback from solicitors would be welcomed – you can email your comments to c.oflaherty@lawsociety.ie.
The committee has already received some suggestions for improvement that it is looking into, and it will adjust the precedent accordingly over time. The latest version of the document will always be the one on the precedents page of the website, and practitioners should therefore make sure to download the precedent from the website for each transaction.