Professional practice updates 2013
Professional practice updates December 2013
Following representations from the Society after matters were brought to the attention of the Property Law Committee, Lloyds Banking Group have agreed to amend the Certificate of Title to be granted in relation to Commercial Banking so that reference to "current best conveyancing practice" is removed and the new wording will be:-
"We have examined and considered all relevant documents of title and other documents and papers relating to the Property and considered the results of the Searches (including where relevant Coal Authority enquiries, searches in the Register of Community Interests in Land and Form P16 Reports), local authority property and planning enquiries and made all appropriate enquiries of the Owner as required in terms of your instructions to us.
The information given in this Certificate arises solely from such examination and consideration and the results of such Searches, enquiries and information.
In giving this Certificate and investigating the title to the Property, we have exercised the standard of care of a reasonably competent solicitor experienced in acting on behalf of heritable creditors taking security over non-residential property or where applicable residential property in Scotland."
The Society is responding to a consultation issued by the Judicial Office for Scotland on behalf of the Lord President. Comment will come from the Civil Justice Committee, the Criminal Law Committee and the Access to Justice Committee. Any members who wish to express views, which may be relevant to the Society's response, can email Fiona J Robb - Secretary to the Civil Justice Commitee.