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A risky business?

16 June 2011 / Phillip Oldcorn
Issue: 7470 / Categories: Features , Property
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Phillip Oldcorn explains how innovation can help reduce risk

Here’s a suggestion for an interesting game for the conveyancer’s office. Ask your next few clients how they think risk is managed in their conveyancing transaction.

Agree among the staff a selection of possible answers; the Land Registry, the conveyancer is responsible for all conveyancing risk, the Law Society will protect me etc.  Do a sweepstake for the answers among the staff. Sit back and enjoy the game!

The correct answer is that there are several factors which mitigate most but not all conveyancing risks. Think of the following: good quality conveyancing practice, a (limited) Land Registry guarantee, PI insurance.  But how often do we stop and consider the uninsured risks that the best conveyance cannot prevent?  How can we cater for a dishonest seller? Why doesn’t anyone measure and/or GPS the boundaries of a property?  How can we protect those most vulnerable to mortgage or identity fraud?

Blind spots

There is a real consumer blind spot and lack of curiosity about the subject. This

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MOVERS & SHAKERS

Birketts—trainee cohort

Birketts—trainee cohort

Firm welcomes new cohort of 29 trainee solicitors for 2025

Keoghs—four appointments

Keoghs—four appointments

Four partner hires expand legal expertise in Scotland and Northern Ireland

Brabners—Ben Lamb

Brabners—Ben Lamb

Real estate team in Yorkshire welcomes new partner

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