The Law Society’s updated Code for Completion by Post applies from April 1 and is available on the Law Society’s website. See New Code for Completion. The Code for Completion by Post is often adopted in commercial transactions. The preamble to the new version says: “The code provides a voluntary procedure for postal completion for residential transactions”. However, if a commercial property lawyer uses the SCR Form (Solicitor’s Completion Requirements) in a transaction, and asks on the form if the seller’s solicitor will “adopt the current Law Society’s Code for Completion by Post” it will be this new Code that applies. The new Code will apply to transactions where the code is adopted after 1 April 2011. Full commentary on the new Code is provided in this month’s CPI Update to be published on 1 April.
Property PSL