CQS Purchase of a Leasehold Policy
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CQS Purchase of a Leasehold Policy Template
In 2019, the Solicitor’s Regulation Authority identified shortcomings in conveyancing firms regarding client information on property ownership. A review revealed that 23% of firms could not differentiate between freehold and leasehold titles. The CQS CPMS standard now requires accredited practices to maintain appropriate leasehold policies, yet many fail to comply effectively.
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CQS Purchase of a Leasehold Policy
The Law Society’s Conveyancing Quality Scheme (CQS) establishes key management standards for leasehold property transactions, focusing on financial implications, ground rents, marketability, extended mortgage terms, management information, referrals, and building safety procedures. Comprehensive reporting ensures clients are well-informed about lease liabilities and obligations prior to exchange.