Risks of acting for an unsecured private lender

Acting for a private lender can be risky and LPLC regularly receives claims from this area of practice. Two common mistakes made are failing to: advise a lender to obtain security for the loan and register a mortgage or charge following settlement of the loan. In a recent claim we saw a variation on the […]

Determine necessary searches early

When acting in conveyancing matters, practitioners should always determine at an early stage what searches and enquiries are necessary to ensure the client is aware of potential risks, particularly when the property is unusual in any way. In one claim, a practitioner acted for the purchaser of a property that included a main residence accessed […]

Two important risk issues when acting for plaintiffs – experts’ reports and time limits

A claim received by LPLC highlights the need for practitioners to be proactive about identifying applicable time limits early and managing clients’ expectations when acting for plaintiffs. About seven years after a couple moved into their newly constructed house they noticed some cracking. Two years later further cracks appeared and the couple retained the practitioner. […]

Managing costs can help avoid claims

Having clear, documented policies and procedures regarding scoping, cost estimating and billing can help firms avoid claims as well as improve the bottom line. They help firms to consistently provide a high level of client service and can play a role in identifying and addressing client dissatisfaction before it turns into a complaint or claim. […]

Client identification policy protects you and your client

Since the introduction of the ARNECC identity requirements for electronic conveyancing and s.87A of the Transfer of Land Act 1958 (Vic) (TLA) for mortgagees to identify mortgagors LPLC has received a number of enquiries from practitioners asking whether they need to identify every client. The answer is yes. There has always been an obligation imposed […]