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UK COVID-19: Remote working and COVID-19: how can I keep the wheels moving on my real estate deals?

UK COVID-19: Remote working and COVID-19: how can I keep the wheels moving on my real estate deals?

Mar 10, 2020
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Q:         As the number of confirmed Covid-19 cases grows across the globe and home working becomes more prevalent, how can you try to ensure that real estate transactions continue to happen?

A:         Consider using a dedicated e-signing platform to both approve (internally) and then execute your real estate transactional documents.  The UK Government (through a written statement from the Lord Chancellor on 3 March 2020) has now acknowledged the report completed by the Law Commission in 2019 which categorically confirmed that e-signatures are a reliable form of execution, both of contracts and deeds in England & Wales. Whilst they cannot yet be used for any documents that need to be registered at the Land Registry (including transfers and leases of five years or more) that leaves a wide range of suitable documents including contracts, licences, side letters, warranties, rent review memorandums and short term leases. 

Remember that where a signature requires a witness that witness must be physically present at the e-signing. A working group is currently being formed to consider security, technology platforms and the possibility of video witnessing in the future. 

Q:         Can e-signatures be employed for real estate transactions in England & Wales where one of the parties is non UK based?

A:         Many other jurisdictions allow the use of e-signatures.  Foreign parties will frequently be expected to provide a legal opinion from a locally based law firm to confirm the legal effect of a transaction or matter - this would normally cover the execution of documents and we would recommend in this scenario it should expressly confirm the validity of e-signatures.

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This material is not comprehensive, is for informational purposes only, and is not legal advice. Your use or receipt of this material does not create an attorney-client relationship between us. If you require legal advice, you should consult an attorney regarding your particular circumstances. The choice of a lawyer is an important decision and should not be based solely upon advertisements. This material may be “Attorney Advertising” under the ethics and professional rules of certain jurisdictions. For advertising purposes, St. Louis, Missouri, is designated BCLP’s principal office and Kathrine Dixon (kathrine.dixon@bclplaw.com) as the responsible attorney.