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After the invasion of Ukraine, the UK Government took steps to address growing concerns of money laundering and other economic crime from Russian and foreign entities operating in the UK or with UK companies. This led to the introduction of the Economic Crime (Transparency and Enforcement) Act in March 2022.
In the event that a landlord dies or has mental incapacity, if a Power of Attorney (POA) has been set up, the person(s) named as the landlord’s POA can instruct on the landlord’s behalf.
To help sales and letting agents navigate the complexities of new regulations released under the Building Safety Act 2022, Propertymark has created a series of fact sheets to understand the rules and how they impact home buyers and sellers, and landlords and tenants.
Fifteen conveyancers have started to use a new pack that has been created by the Residential Logbook Association (RLBA) for each property sale at the point of completion, which will enable integration between logbook systems and case management platforms.