In 1823, a disparate group of those called Proctors, Attorneys and Solicitors got together to buy a piece of land in Chancery Lane near to the Barristers Inns of Court to build a library and reading room that would rival the Inns of the Bar. The group were given a Royal Charter and eventually changed their name to the Law Society representing Solicitors throughout England and Wales.
Their status up until that time had been questionable as the regulation of Solicitors had been partial to say the least. From then on, there was a determination that Solicitors would be fully trained and regulated. The legal profession in England and Wales was divided into two parts. The Solicitors advised on litigation issues and developed contract and transactional work including the transfer of land via Conveyancing.
The Bar, on the other hand, concentrated on Court proceedings and advocacy. The Solicitors profession has now grown to more than 140,000 members operating in over 90 countries throughout the world. The Bar remains a tad more exclusive, in more senses than one, and is about 15,000 in number.
This split in the legal profession is relatively unusual throughout the world. The US only has one profession as do most of the European systems. The big historical difference in England was the fact that all property and business transactions were handled by Solicitors. Property work ensured that Solicitors were at the heart of almost all business and property transactions which put us at the centre of the commercial and financial life of our society. In the US, the legal profession succeeded property work to Realtors and Insurance products which meant that their profession concentrated on the work Barristers do in the UK, more removed from commercial issues.
This happy accident of history is the reason why the England and Wales legal system is preeminent throughout the world. Any respectable US law firm wanting to make it internationally has to set up a practice in London to succeed as we have the expertise in international transactional work where English law is to the fore. It is also why the profession here has been so open to change and why lawyers play a part at the heart of our economic life.
People take it for granted that each year billions of pounds pass through Solicitors Client accounts and the public and financial institutions trust the profession to ensure that funds are not misused. This trust is backed up with compulsory professional indemnity insurance and a compensation fund to which all Solicitors contribute giving a cast iron guarantee that clients will not suffer from misuse of their funds.
Conveyancing has changed over the years. Land Registration has taken away many of the legal drafting elements of the work. However, the process is almost as complicated as ever. Problems of chains of transactions, where money being provided at the bottom of the chain is then used by purchasers up the chain, can add up to a logistical nightmare and cause delays beyond the solicitor’s control.
However, good processes and well trained staff can make a huge difference to the client experience in this imperfect process. Jackson Lees stats show that despite these problems, 97% of our clients would use us again and recommend us to a friend. We are proud of those figures and are working hard to eliminate dissatisfaction in the other 3%.
Making a difference through the practice of law applies just as much to property work as any other work we do. Should you require any assistance regarding Conveyancing law, please contact us today.