Law Society Conveyancing Protocol Flashcards
What is the primary purpose of the Law Society Conveyancing Protocol?
A) To regulate all property transactions, including commercial and agricultural land
B) To standardise and improve efficiency in residential conveyancing transactions
C) To enforce strict penalties for conveyancing delays
D) To provide a legal framework for resolving property disputes
B) To standardise and improve efficiency in residential conveyancing transactions
Explanation: The Law Society Conveyancing Protocol is designed to create a structured and transparent process for residential conveyancing transactions, ensuring efficiency. It does not apply to commercial or agricultural transactions, nor does it impose penalties or resolve disputes.
Who is required to follow the Law Society Conveyancing Protocol?
A) All solicitors handling property transactions
B) Members of the Law Society’s Conveyancing Quality Scheme (CQS)
C) Estate agents involved in property sales
D) All mortgage lenders providing home loans
B) Members of the Law Society’s Conveyancing Quality Scheme (CQS)
Explanation: The Protocol is voluntary for most solicitors, but it is mandatory for those accredited under the Conveyancing Quality Scheme (CQS). Estate agents and mortgage lenders do not fall under the Protocol’s requirements.
Which type of property transaction is not covered by the Conveyancing Protocol?
A) The sale of a leasehold flat
B) The purchase of a freehold house
C) The sale of a newly built home
D) The purchase of a second-hand residential property
C) The sale of a newly built home
Explanation: The Protocol applies to residential transactions involving existing properties but does not cover new-build properties, as these require different legal considerations and processes.
What must a solicitor do if they choose to follow the Protocol?
A) Only follow the parts of the Protocol that suit their client’s needs
B) Use it only if the seller requests it
C) Follow it only when dealing with leasehold transactions
D) Comply with all its terms and act in the spirit of the Protocol
D) Comply with all its terms and act in the spirit of the Protocol
Explanation: The Protocol requires solicitors who adopt it to fully comply with its terms and operate within its principles, ensuring transparency and efficiency in transactions.
A solicitor following the Protocol must ensure that pre-contract enquiries are:
A) Raised indiscriminately to cover all possible risks
B) Limited to one enquiry per transaction
C) Raised only if they are essential to act in the client’s best interests
D) Used primarily to delay the conveyancing process
C) Raised only if they are essential to act in the client’s best interests
Explanation: The Protocol states that solicitors should only raise relevant pre-contract enquiries to address specific issues that directly affect the client’s interests, rather than asking unnecessary or overly broad questions.
What is a key principle of the Conveyancing Protocol?
A) Imposing financial penalties for delays
B) Automatically rescinding contracts upon delays
C) Making mediation compulsory for all disputes
D) Transparency and cooperation between parties
D) Transparency and cooperation between parties
Explanation: The Protocol promotes open communication and cooperation between solicitors, ensuring transactions proceed smoothly and reducing unnecessary delays.
A solicitor is handling a residential property transaction under the Conveyancing Protocol. What must they do if they become aware of an issue that could delay the searches?
A) Notify the seller’s solicitor and provide an estimated timeframe
B) Ignore the delay and proceed with the transaction
C) Advise the buyer to withdraw immediately
D) Inform the estate agent instead of the seller’s solicitor
A) Notify the seller’s solicitor and provide an estimated timeframe
Explanation: Under the Protocol, transparency is key. If there is a delay, the solicitor must communicate openly with the seller’s solicitor and provide an estimate of when searches will be submitted.
A seller’s solicitor has completed pre-contract enquiries two months ago. What does the Protocol require them to do before exchange?
A) Nothing—once completed, the replies do not need updating
B) Confirm and update the replies if necessary
C) Withdraw the replies and refuse further enquiries
D) Request a new contract before updating replies
B) Confirm and update the replies if necessary
Explanation: If the pre-contract enquiries were completed more than two months ago, the seller’s solicitor must review and update them to ensure the information remains accurate.
What could happen if a solicitor repeatedly fails to comply with the Conveyancing Protocol while being part of the CQS?
A) They may be required to provide an explanation and face monitoring
B) They will be automatically disqualified from practicing conveyancing
C) They will have to pay financial penalties to the Law Society
D) Their clients will be forced to restart the conveyancing process
A) They may be required to provide an explanation and face monitoring
Explanation: Non-compliance with the Protocol could lead to monitoring by the Law Society, which may eventually remove the solicitor from the Conveyancing Quality Scheme (CQS) if breaches continue.
A solicitor acting under the Conveyancing Protocol receives an enquiry from the buyer’s solicitor that seeks the seller’s opinion rather than a factual answer. What should they do?
A) Refuse to respond as the enquiry is not in line with the Protocol
B) Answer the enquiry to avoid any delays
C) Demand additional payment from the buyer’s solicitor before responding
D) Escalate the matter to the Law Society for investigation
A) Refuse to respond as the enquiry is not in line with the Protocol
Explanation: The Protocol states that only factual enquiries should be raised. If an enquiry seeks an opinion rather than a fact, the seller’s solicitor is not required to respond.
