Price Register records a sale, but no title change in the property folio?

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abackman

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(disclaimer: I'm an American looking to relocate to Ireland and still learning about how property records are managed there, so apologies in advance for any laughable misunderstandings of how things work!)

I am looking into the records for a property I am interested in, and the Property Price Register shows a sale for a property in 2017 but the folio shows ownership last changing in 2010. Is this normal, or something I should be concerned about?

Contemporary newspaper articles show it being listed for sale in 2004 and 2017, and the estate agent confirmed the 2017 sale. The folio shows two entries: a 2006 entry listing a development company (this is struck through and marked "Cancelled") and a 2010 entry listing a couple as owners. There is no corresponding sale in the Property Price Register and I've found no other documentation of it, but I believe the couple were the sole owners of the development company and simply transferring the title to their own name (perhaps in advance of shutting the company down in 2008), so maybe that's normal?

Thanks in advance for helping me make sense of this!
 
Cancelled is done where the original owner (and their lender) sell, next page will show new buyer, and so on, each subsequent owner gets a line through until final owner indicates who is owner and their lender if there is one. PPR only instituted in 2010 so might have predated the actual start date?
 
I suspected that was what "Cancelled" indicated, thanks for confirming! And yes, the first folio entry is dated 2006, so it makes sense that it's not listed in the PPR.

What I'm really confused by is the 2017 entry in PPR that doesn't show up in the folio anywhere. I thought PPR is based on Stamp Duty payment, which come from property sales, which should result in ownership changes in the folio?
 
The payment of the stamp duty and the land registry folio updates are separate things.
 
I understand stamp duty and folio updates are separate, but I'm under the impression that those are two Very Important Legal Things that need to be done when a property is purchased. Are there legitimate reasons (read: not a mistake, not some kind of fraud) why a property's folio wouldn't be updated to reflect the new owners after the property is sold?
 
If the PPR shows a sale, then a sale almost certainly took place. The PPR is updated on payment of Stamp Duty, it is very unlikely anyone paid stamp duty unless there was a sale ! Outright mistakes on the PPR are not uncommon, of course, it could be a wrong address.

Updating the folio is in reality just a piece of admin. It is not of great consequence if its not done.

If you are a potential purchaser none of this is relevant. Your solicitor will ensure that you get good title irrespective of what happened in the past.
 
abackman said:
Okay, I thought the folio was the official legal record of ownership, hence my confusion. Thank you!
Click to expand...
It is.

The register was introduced 10/15 years ago. It was required that all property sales be recorded on the register, so properties which have not changed hands in that time i.e. the large majority, are not usually on the register.

There does not seem to be any timeframe for registering a new owner.

The concept exists of a difference between 'the registered owner' and the 'person entitled to be registered'.

It sometimes happens that the registered owner dies and the heir simply occupies the property without any change in registration.

Title Deeds still provide evidence of ownership for the majority of properties.
 
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