Will the Law Society Code for Completion by Post apply to this transaction?

Prepare for the CILEx F4 Property and Private Client Test. Utilize flashcards and multiple choice questions, complete with hints and detailed explanations. Ace your exam with thorough preparation!

Multiple Choice

Will the Law Society Code for Completion by Post apply to this transaction?

Explanation:
Completion by post is governed by a voluntary framework the Law Society provides to reduce risk when documents and funds are sent between parties after contracts are exchanged. It doesn’t bind every conveyancing deal automatically; instead it applies by default to transactions that use completion by post unless a party’s solicitor explicitly indicates otherwise. So, the transaction will be subject to the Code unless either party’s lawyer states that it should not apply. This reflects that the code offers standard safeguards, but an explicit instruction from the lawyers can override it.

Completion by post is governed by a voluntary framework the Law Society provides to reduce risk when documents and funds are sent between parties after contracts are exchanged. It doesn’t bind every conveyancing deal automatically; instead it applies by default to transactions that use completion by post unless a party’s solicitor explicitly indicates otherwise. So, the transaction will be subject to the Code unless either party’s lawyer states that it should not apply. This reflects that the code offers standard safeguards, but an explicit instruction from the lawyers can override it.

Subscribe

Get the latest from Passetra

You can unsubscribe at any time. Read our privacy policy