Law Society's consultation on residential conveyancing

Next Friday (18 September) sees the end of the Law Society's consultation on residential conveyancing. See Improving residential conveyancing: Law Society consultation.

The process of consultation is relevant to all conveyancers - residential or commercial. This is because the Law Society has given itself a remit to review a number of fundamental aspects of conveyancing, and these would have a knock-on effect on commercial or mixed use transactions. The review includes a proposed part-reversal of the caveat emptor principle through the introduction of property warranties, a review of the Law Society formulae for exchanging contracts (including the introduction of a new formula for electronic exchange), and revisions to the Standard Conditions of Sale (4th Edition). You may wish to air your views in response to the Law Society's paper. But there is only one week left in which to do so.