Commercial Conveyancing

As an Accredited Paralegal, you are required to demonstrate competence in your chosen area of practice as well as the general competencies and standards of conduct.

Below are competencies, skills, knowledge and understanding, and legislation specific to the Commercial Conveyancing practice area.

Competencies

You should be able to progress a Commercial Conveyancing instruction, from taking the client's initial instructions through to conclusion of the case. Specifically, you should be competent to

  • interview and correspond with client
  • deal with all aspects of identification, source of funds and source of wealth, including gifted deposit requirements
  • issue Terms of Business and fee estimate
  • advise client on procedural aspects of the transaction
  • report on valuation to client, obtaining instructions as appropriate
  • review title and report to client on same
  • produce and negotiate missives on behalf of client
  • arrange and attend to the concluding of missives
  • carry out searches with relevant authorities, report search results
  • prepare a Disposition for purchase or review Disposition for sale
  • prepare Standard Security/Discharge when appropriate
  • prepare and lodge Advance Notice/s
  • ensure valid execution of documentation
  • prepare completion statements
  • arrange and attend to settlement, including execution of documentation
  • complete Registration Form(s), as appropriate, for acceptance by the Keeper
  • complete Land and Buildings Transaction Tax application form – both paper and online
  • arrange for registration of the relevant deeds following completion
  • undertake aspects of landlord and tenant management work including: Rent Reviews, Short-term licenses, Surrenders, Letters of consent for assignations, renunciations and sub-leases; Lease variation; Rent Concessions; Notices to quit/termination licenses

Skills, knowledge and understanding

You should be able to demonstrate knowledge, understanding and awareness of:

  • the steps involved in a commercial conveyancing transaction
  • the rights and obligations of the client as purchaser, seller, landlord, tenant and/or secured lender
  • the law and basic principles of personal and real rights; sasines and registered titles; special destinations; the giving and taking of security
  • the significance of the home report/valuation report
  • missives, their negotiation and their significance
  • how a purchaser obtains a good, valid and marketable title
  • the various searches required for the particular type of transaction, how to obtain them, and the fees payable/chargeable and the significance of the search results
  • Letters of Comfort, Letters of Obligation, Letters of Undertaking
  • the law on execution of deeds in Scotland, including signing, witnessing and testing clauses
  • the timescales involved in conveyancing transactions, particularly in relation to registration of deeds and registration of charges
  • the process of registration in the different registers
  • the requirements for registration of charges
  • procedure and requirements in relation to LBTT

Legislation 

You are required to demonstrate knowledge, understanding and familiarity with the relevant legislation and rules of court. This requires being cognisant of the continuing changes to current legislation and rules and the introduction of new legislation and rules. The following is a non-exhaustive list of the areas relevant to Commercial Conveyancing work. 

  • Abolition of Feudal Tenure (Scotland) Act
  • Anti-Money Laundering Regulations
  • Bankruptcy (Scotland) Act
  • Building Standard (Scotland) Act
  • Bribery Act
  • Civil Partnership Act
  • Companies Act
  • Companies House Forms
  • Contract (Scotland) Act
  • Conveyancing & Feudal Reform (Scotland) Act
  • Conveyancing (Scotland) Act
  • Data Protection Act
  • Family Law (Scotland) Act
  • Finance Act
  • Housing (Scotland) Act
  • Land and Buildings Transaction Tax (Scotland) & The Land and Building Transaction Tax (Amendment) (Scotland) Act
  • Land Registration etc (Scotland) Act
  • Land Registration (Scotland) Act
  • Matrimonial Homes (Family Protection) (Scotland) Act
  • Money Laundering, Terrorist Financing and Transfer of Files (information on Payer) Regulation
  • Financial Services and Markets Act
  • Proceeds of Crime Act
  • Private Housing (Tenancies) (Scotland) Act
  • PSG Styles
  • Requirements of Writing (Scotland) Act
  • Legal Writings (Counterparts and Delivery) (Scotland) Act
  • Tenement (Scotland) Act
  • The Carbon Reduction Commitment Energy Efficiency scheme
  • Title Conditions (Scotland) Act
  • Town & Country Planning (Scotland) Act
  • UK Finance Lenders Handbook

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