Lawyers work to rule
Article Abstract:
The UK Law Society has introduced a new rule which regulates solicitors who act for lenders and borrowers of both commercial and residential property. Often small commercial deals are undertaken by joint representation to reduce costs and help prevent long delays yet the new rule seems to favour separate over joint representation. Under the new rule solicitors can check the identity of their clients and undertake a bankruptcy check. Solicitors must make their clients aware of the restrictions under the new law. The Practice Rule 6 comes into operation from Oct. 1, 1999.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 1999
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Article Abstract:
Issues concerning the risks associated with the conveyancing process whereby a solicitors' undertaking is enforced as if it were a binding contract are presented. Reference is made to the case of Patel v Daybells and the implications that may result in more long-winded completion arrangements.
Publication Name: Estates Gazette
Subject: Real estate industry
ISSN: 0014-1240
Year: 2000
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