Can a seller's conveyancer include a draft transfer in the contract bundle?
Many conveyancing firms routinely include a draft transfer when submitting the contract bundle to the buyer’s conveyancer. Is this in line with the Conveyancing Protocol?
It's usual for the buyer’s conveyancer to prepare and submit the draft transfer to the seller’s conveyancer as envisaged by condition 4.3.2 (timetable) of the Standard Conditions of Sale.
Under section 48(1) of the Law of Property Act 1925, the seller can reserve the right to prepare the transfer by including a contractual obligation to that effect in the contract. This is usual when dealing with transfers of part.
Step 13 of the protocol sets out the seller's obligations when submitting the contract bundle to the buyer's conveyancer.
Whilst there is no obligation on the seller to include a draft transfer, the protocol states that the seller's conveyancer should “consider including a draft transfer”.
As set out in our guidance to the protocol, the parties are given this option to deal with the transfer with the aim of reducing time between exchange and completion by obtaining the client’s signature to the contract and execution of the transfer in readiness.
While every effort has been made to ensure the accuracy of the information in this article, it does not constitute legal advice and cannot be relied upon as such. The Law Society does not accept any responsibility for liabilities arising as a result of reliance upon the information given.
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