I act for a seller in a conveyancing transaction which has not yet proceeded to exchange. The buyer is also represented by a firm of solicitors. My client has informed me that he is concerned that the transaction has not progressed and would like to deal with another potential buyer. Do I need to inform the first buyer’s solicitors?
I note that a significant change has been made to the conditions relating to insurance under the fifth edition of the Standard Conditions of Sale. Under clause 5.1.1, the risk now passes to the buyer on exchange of contracts rather than on completion. Why has this change been made?
My client wishes to revoke his unregistered enduring power of attorney and enter into a new lasting power of attorney. There are no issues in relation to mental capacity. Can his EPA simply be destroyed?