Text for Report on Title
ROT: Register of Overseas Entities - Seller is Overseas Company
- Change date
- 02/11/2023
- Word count
- 263
- Deployment measure
- 9/10
Rationale
Important wording to be included in light of the Economic Crime (Transparency and Enforcement) Act 2022. Applicable in situations where the seller is an overseas seller. Also managing the clients expectations concerning possible delays in registration due to HMLS still getting to grips with the legislation.
The seller of the property is an overseas entity and as such under new legislation there are certain additional formalities that we have to comply with. Effective as of 1st
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