From 1 January 2019, a new system for buying and selling property will be introduced in Ireland. The new ‘pre-contract investigation of title’ (PCIT) system will speed up the conveyancing process and make it more efficient. This new system will ensure that any questions relating to the property’s title are raised and then answered before the contracts are signed.
The new system has been designed by the Law Society of Ireland and solicitors with the goal to improve efficiency. The new system also gives greater transparency in the conveyancing process as queries are answered before someone is “locked into” the contract.