How Long Do Solicitors Keep Conveyancing Files?

What are conveyancing files?

Conveyancing documents underpin the whole process of transferring the ownership of a property from one person to another.

Their purpose is to confirm that conveyancing procedures have been implemented correctly and that the transaction is legally sound.

A house sale usually involves a large amount of money and conveyancing documents are crucial to safeguarding the interests of both the vendor and purchaser.

Conveyancing documents include:

• Contract of sale: forms an agreement between the two parties as it lays down the amount the buyer is paying, when they are paying it and what they are getting for their money. The contract of sale must be signed by both the buyer and seller and is then legally binding.
• Title deeds: provide proof of ownership of the property.
• Search documents: act as evidence of the various searches that have been carried out on the property and provide details of what has been found.
• Transfer documents: confirm that ownership of the property has been transferred from one party to another.
• Mortgage documents: give details of any mortgage arrangements that the purchaser has undertaken to help them buy the property.
• Completion statement: provides information regarding all payments that have been paid during the conveyancing process – and any that are still to be paid.

Why is it important for a solicitor to keep conveyancing documents?

It’s vital that solicitors retain conveyancing documents in case any party subsequently brings a legal case regarding the property transfer. However, due to various legislative and regulatory obligations, including Money Laundering Regulations; data is usually held for a minimum of 6 years. Solicitors must inform their clients at the outset how long their file will be retained.

How long should solicitors keep conveyancing files?

The Law Society does not provide specific guidance on this issue and so it is a matter for the judgement of solicitors themselves.However, due to various legislative and regulatory obligations, including Money Laundering Regulations; data is usually held for a minimum of 6 years. Solicitors must inform their clients at the outset how long their file will be retained.

How long do solicitors keep conveyancing files for?

Most solicitors agree that it’s highly advisable to retain conveyancing documents for at least 15 years from completion of the transfer as this is the time limit for legal cases to be brought over residential property transactions as laid down in the Limitation Act 1980.

How can Wilson Browne help with my conveyancing?

With one of the largest conveyancing departments in the East Midlands, your property transaction is in safe hands if you choose Wilson Browne to act on your behalf.

We will use our expertise and in-depth knowledge of the local property market to help ensure the process goes as smoothly as possible.

We pride ourselves on our excellent customer service and will work at all times with integrity and professionalism to ease the strain of moving home.

In the unlikely event of the conveyancing documents being needed for any subsequent legal challenge, you can rest assured that we will make them available to you.

Please get in touch to arrange a free, no-obligation chat on how we can help you with your conveyancing – we have offices in Corby, Higham Ferrers, Kettering, Leicester, Northampton and Wellingborough.

To make an appointment, please call 0800 088 6004 or complete our online contact form.

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