Whether or not you are prepared for the changes that will take place in registration of titles from 3 December this year onwards, it will still come a s a huge cultural shock when then existing system effectively disappears for two days and then reappears as something completely different. We reproduce below part of an article by Ken Swinton from our Gazette of March 2012.
We are still hoping for effective guidance from the Law Society and professional indemnity insurers. It seems that the new system -advance notices instead of letters of obligation - is optional but that is probably a mirage. It is perhaps unlikely that the professional indemnity will cover letters of obligation when the option of advance notice is available. That leaves open, however, the question of undertakings for the production of discharges etc. post settlement. We gather that any such undertakings are likely to be “on behalf of” clients. One difficulty is that we are likely to be concluding missives in traditional terms which do not allow for the new arrangements. Here is what Ken had to say two and a half years ago.