The Law Society has today, Monday 19th August launched its Conveyancing Protocol 2019, which has replaced the previous 2011 version.
The update comes following changes to the Conveyancing Quality Scheme effective from May 2019 and addresses some of the most significant changes in conveyancing since the release of the previous version.
Most notably the new protocol provides for
- New CQS Core Practice Management Standards
- Court of Appeal decision in Dreamvar (2018) EWCA Civ 1082
- SRA Transparency Rules
- Government’s consultations on the home buying and selling process and leasehold system
- Revised Code for Completion by Post
Conveyancers will be pleased to see the number of steps reduced however the Law Society is clear that obligations remain the same and the updates are intended to
- Remind you of your obligations
- Reduce the risk of fraud
- Increase the efficiency of the process
Acknowledging the increasing digitisation of conveyancing, the complications around stamp duty land tax regime and the increased risk of fraud, phishing and emails scams, Simon Davies, President of the Law Society for England and Wales said:
“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.
“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.
“The Law Society is committed to providing support, advice and guidance to solicitors in all areas of relevant practice, in the best interests of clients and the public.”