Law Society publishes updated Code for Completion
The Law Society has published the latest version of the Code for Completion by Post which will take effect from 1 May 2019.
The Code has been amended to reflect that the seller’s conveyancer is acting in a genuine sale following the Court of Appeal ruling in Dreamvar.
It was held in the Dreamvar case that the fraudster seller’s solicitor was in breach of the undertaking to the buyer’s solicitor implied by the Code. The Court of Appeal’s construction of the Code required the seller’s solicitor to use the completion money for a genuine completion.
CLC Practices do not have to use the Code. If the Code is used, both buyer and seller’s conveyancers must agree to use it.
See the changes to the Code on the Law Society website.
See the CLC’s advice for protecting yourself against fraud in conveyancing transactions.