As a result of the cost of fraud on registered land to the HM Land Registry commission, it is recommending that a 'duty of care' is imposed on conveyancers.
Those that are compliant in following the new directions will not held liable. However for those conveyancers that are not, the commission would look to recover the costs.
'Our reforms ensure that the financial consequences of fraud fall on the minority of conveyancers who do not exercise appropriate due diligence. They will also encourage best practice in the profession, and, by providing a standard set of checks, give clarity and certainty to conveyancers about their obligations in respect of identity checks,' the commission says.
If you wish to discuss any aspect of a conveyancing matter, please telephone 01276 680000 and ask for Tony Struve or Michael Daniels. Alternatively, please email firstname.lastname@example.org