Proceedings searches in conveyancing
The Law Society’s Conveyancing Committee has clarified its position on proceedings searches in conveyancing transactions.
The committee says that its view on conducting proceedings searches in addition to judgments searches (including lis pendens) on a typical conveyancing transaction is that this additional search is not necessary.
It adds that the only litigation that could affect priority of the land being acquired would appear on the judgments (lis pendens) search.
“Notwithstanding this, when acting for a borrower or bank it would be common for proceedings searches to be carried out by the lender’s solicitor,” the committee states.
It has also reminded practitioners that, if the property is subject to first registration, certified judgement searches for the preceding five years (and predecessors on title) will need to be lodged with the first registration application.