Q&As

The rules on issuing a second contract, in a contract race situation, refer to ‘seller’. Does this apply they apply equally to the grant or disposal of a leasehold interest?

read titleRead full title

Published by a ÀÏ˾»úÎçÒ¹¸£Àû Property expert
Published on: 01 August 2019
imgtext

SRA Code of Conduct Chapter 11 covers the relations that a solicitor has with third parties. Outcome 11.3 of the solicitors regulation authority (SRA) Code of conduct applies to contract races ie when a seller instructs their solicitor to deal with two or more separate buyers and provides:

‘where you act for a seller of land, you inform all buyers immediately of the seller’s intention to deal with more than one buyer’

The SRA Code however does not provide further guidance on how this should work in practice.

The Law Society Practice Note on Conflict

Powered by Lexis+®
Jurisdiction(s):
United Kingdom
Key definition:
Rules definition
What does Rules mean?

The detailed provisions of a pension scheme.

Read more

Popular documents

Title guarantee and covenants for title

Title guarantee and covenants for titleOn the disposition of a property (whether by way of conveyance, transfer or charge), the party making the disposition will normally provide a title guarantee which implies standard form covenants for title. A landlord may give a title guarantee when granting a

Establishing a beneficial interest (joint ownership)

Establishing a beneficial interest (joint ownership)Where two or more people together own real property, they hold it under a trust of land. Where property is held on a trust of land, the legal estate and equitable estate are separate. The legal estate must be held by the co-owners as joint tenants.

Resulting trusts

Resulting trustsResulting trusts represent one of the three types of trust which do not require to be declared or evidenced in writing. The others are constructive and implied trusts, although it is perhaps doubtful whether there is any form of implied trust which is not in fact either a resulting

Scotland—the process for applying for sequestration

Scotland—the process for applying for sequestrationSequestration in Scotland is the legal process by which an insolvent debtor’s estate is gathered in, realised and then distributed among their creditors by a trustee appointed for that purpose. The process requires that a formal award of