Law Society supports solicitors dealing with flat sales affected by the Building Safety Act

Law Society announces its support for solicitors dealing with flat sales affected by the Building Safety Act.

The Law Society has today (14 February) released a new guide to help members involved in flat sales and purchases understand the Building Safety Act 2022 (BSA 2022).

The BSA 2022 is part of the building safety legislation produced in the wake of the 2017 Grenfell Tower disaster. It introduces a new building safety regime for certain residential buildings. Part of the Act addresses who will pay the costs of remediating buildings.

The government has said it is committed to protecting leaseholders from the burden of remediation costs. It has introduced developer and government-funded schemes that have significantly reduced the costs for leaseholders.

When the BSA 2022 was first introduced, some firms decided not to take on matters involving affected properties because of the responsibility it appeared to place on them resulting from the novelty, complexity and lack of clarity in the legislation.

Law Society of England and Wales president Nick Emmerson said:

“Our guide will help solicitors make sense of the improvements to the legislation that have been made since it was first introduced.

“It will also provide solicitors with necessary information to make informed decisions about taking on residential leasehold conveyancing matters where the BSA 2022 applies.

 “Created in response to members’ initial concerns about the legislation and developed with government and industry stakeholders, it contains background information and high-level guidance, signposting the key sources of information solicitors need to navigate the BSA 2022.”

This guide includes information on:
    • introduction of the BSA 2022
    • who pays to remediate tall buildings affected by fire safety issues
    • general criteria for working on BSA 2022 matters
    • establishing if a building is in scope
    • advising sellers
    • advising buyers and lenders
    • leaseholder-owned blocks
    • the position in Wales

The Law Society has also worked with the Department for Levelling Up, Housing and Communities to provide supplementary FAQs and illustrations of some situations solicitors may encounter in practice.

 

Kindly shared by The Law Society of England and Wales