The Law Society has recently confirmed conveyancing solicitors’ duty to advise on climate change legal risks as part of the transaction. There is limited practical advice on the subject at present, but this could increase transaction time if, for example, additional searches are required to advise the client on potential climate change impact.
Property professionals should be aware of this new requirement, particularly in areas where there are already known risks which may be impacted by climate change (e.g. areas affected by flooding) and try to pre-empt the issue by ensuring that any environmental search includes a climate impact assessment in the first instance.
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