Review of Scottish Standard Clauses
Scottish Standard Clauses were put in place with the aim of having a Scotland wide approach to offers being made for the sale and purchase of residential property. Standard Clauses were first introduced after a nationwide Consultation involving lawyers across Scotland on 5th January 2015, and since their introduction have been reviewed annually in an effort to ensure they remain current and take account of any changes in legal practice or changes in the marketplace
The decision to agree a Scotland wide system arose in an effort to reach agreement on some of the more common and frequent issues that can arise as part of the purchase and sale process. Matters such as Planning consents, Factoring arrangements, contents to be included etc. are all matters of importance to individual buyers or sellers but the legal examination of title documents is not usually of assistance in providing detailed information for many of these ancillary matters.
Standard Clauses have proven useful in practice in providing the need for parties to be upfront on what documents ,information is available /are being sought; e.g. it is now common practice to advise whether or not a buyer’s offer is subject to them obtaining a mortgage. Clarity on these issues means parties are aware at the outset of what will be needed and the impact this may have on timescales for reaching a stage where the contract i.e. missives are binding
The most recent revision of the Clause, Scottish Combined Clause 4 was introduced on 21st January 2021. In addition a client guide is available to individuals which provides more background to the individual clauses .It is planned to continue to review the Combined clauses on an annual basis.
For information and advice on the Scottish Combined Clause or any other property matter contact us at firstname.lastname@example.org.