The Law Society has published the 2019 edition of their Conveyancing Protocol. The Protocol details best practice in residential conveyancing transaction of freehold and leashold property.
The protocol is a tool which helps conveyancing solicitors to achieve most effectively the transfer of residential property. It aims to provide consistency across transactions and improve efficiency, said Simon Davis, president of the Law Society of England and Wales.
It has been adapted to ensure continued relevance for practitioners. This includes the new Law Society Code for Completion prepared following the Court of Appeal decision in Dreamvar. he continued.
The new protocol aims to take account of the ever-increasing complexity of stamp duty land tax (SDLT) and the work of HM Land Registry to reduce requisition rates. It includes reminders to address issues early in the process which might otherwise create delays, such as restrictions in leases, and also contains new provisions in relation to lease terms.
The 2019 edition of the Protocol will take effect from 19 August 2019.
You can download the latest Protocol here.