Hi, we have a current situation in which the bank who is the CT controller accidentally transferred to the Purchaser's Solicitor the CT Contol, and that they have accepted the invitation. Can the Purchaser's solicitor create another workspace to transfer the CT to the vendor's solicitor given that settlement is yet to occur?
Yes the CT controller can create workspace to Transfer the CT Control to the relevant subscriber.
TheTransfer of CT Controldocument enables Financial Institutions to give control of a title or titles to their Panel Lawyers. The same document can be used by the Panel Lawyer to pass CT control back to the Financial Institution following completion of a matter.
Solicitors and Conveyancers can also use the document to transfer control to other Solicitors or Conveyancers.
Handy Tips: •Transfer of CT Controlcannot be completed as part of a financial settlement •Transfer of CT Controlcan only be completed as a standalone document (i.e. no other documents can created in the same Workspace)