Page 19 - Yearbook 2020

COMMERCIAL PROPERTY
In conversation with Mary Anderson & Ben Fairhurst
Mary Anderson, Partner, says “It has been clear to see that the rapidly changing economic conditions have altered the relationships between parties in many, if not all, transactions. Respective bargaining positions can even change from week to week. This applies whatever side of a property transaction the client is on, from Landowner to Developer, Seller to Buyer, Landlord to Tenant or Bank to Borrower. It goes without saying that our clients are very alert to the viability and commercial realities of any transaction so it is more fundamental than ever that we fully understand our clients’ business drivers and come up with creative, exible and practical solutions.”
One exible solution which Associate Director, Ben Fairhurst, has dubbed a “surprisingly positive and signi cant practical change” to come out of the pandemic is the ability for clients to
execute documents electronically.
“The change” Ben explains “began with the Mercury case back in 2008 but COVID-19 has resulted in the Land Registry bringing forward a change to their guidance to allow the registration of deeds executed electronically.”
Not only does this mean that documents can be executed easily whilst working from home but this modernisation will streamline execution processes hugely moving forward.
Ben concludes, “The Law of Property Act 1925 has become increasingly out-dated in the context of our ever-increasing digital lives. This Act really is the last hurdle to bringing the Property sector into the 21st century and I rmly believe the electronic execution of documents will quickly become the industry norm.”
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