Estates Gazette EG articles 10-11-1816-11-2018, 22:55
Only got this edition on Weds!! Where has it been?
Some good articles this week:
P.69 Assesses the LR’s proposed use of Blockchain. Explains what it is and how it is supposed to be secure and ‘could reduce property fraud’. I don’t believe that one, personally, can’t see how an encrypted record at LR stop someone pretending to be who they aren’t to a firm of solicitors who then authorise the transfer. Emperor’s new clothes..
P.71 Reports on two proposed changes that lawyers drafting conditional contracts and overage need to consider in case they ever come into force, since they could depress development land value. One is the proposed introduction of local and strategic infrastructure tariff. Also proposals to allow councils to use new simpler CPO powers to facilitate infrastructure and land assembly. Also perhaps reductions in prices paid by removing hope value and other things to take into account in drafting. But when??
P.72. Brill report on a case you couldn’t make up - a Nigerian prince who failed to complete on a £5M house purchase, the hearing of which ran for 6 days in court and looks at all the consequential losses he had to pay in addition to losing the deposit in a 66 page judgement! Good reminder of what can happen. Worth a read!
P.74 Party wall disputes - looks at whether the building owner always has to pay both parties surveyor costs
P.77 Should a fraudster be able to sue their negligent solicitors? Short answer the Court of Appeal- yes! Bizarre case of a mortgage fraudster suing the solicitors for negligence in failing to register the transfer and mortgage.