Clients move into the house on completion and forget about their conveyancer. The file, meanwhile, sits in the single riskiest phase of the whole transaction. Missing an OS1 priority period is still one of the biggest causes of negligence claims against conveyancing lawyers, and the Land Registry has now started attaching firm names to its avoidable requisition data, so how a firm performs is in the public domain.
Lorraine Richardson works through ten tips, and rather more than ten in practice, on managing that risk. Who is actually responsible when the work is siloed between a fee earner team and a post completion team. What the Lenders Handbook requires of you after completion and why writing to a client for the SDLT money afterwards puts you in breach every time. The distinction between a consent restriction and a certificate restriction, and why the wording needs agreeing before exchange rather than chased afterwards. How requisitions get cancelled without notice at twenty working days. And the Accounts Rules trap on a sale that the SRA is increasingly enforcing.
She closes on the Land Registry's own list of avoidable requisitions, which she calls excruciatingly embarrassing for the profession, and on the CLC's warning that the property transfer system will break if conveyancers do not adhere to their undertakings. It is a practical, opinionated session from somebody who goes into firms and sees what is actually going wrong.
Key Takeaways
- Who carries responsibility when post completion work is siloed, and what information has to flow from the fee earner to the post completion team for registrations to go in correctly
- Priority periods, requisition cancellation dates and why both belong on the case management system diarised a week early, since missing an OS1 remains a leading cause of negligence claims
- The Lenders Handbook post completion duties at 5.12.1, 10.6, 11.2.1 and 14.1.1, including why chasing the client for SDLT or Land Registry fees after completion breaches the handbook
- Consent restrictions against certificate restrictions, why consent must be to registration of the disposition rather than to the disposition, and why the wording is agreed before exchange
- Why a restriction stops a registration and a notice does not, worked through the home rights notice and the HR4, and what it costs when one is missed
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