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(p. 118) 10. Exchange of contracts 

(p. 118) 10. Exchange of contracts
Chapter:
(p. 118) 10. Exchange of contracts
Author(s):

Robert Abbey

and Mark Richards

DOI:
10.1093/he/9780198838531.003.0010
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date: 20 June 2021

Exchange of contracts is the most critical stage in the conveyancing process as it represents the point at which the parties become legally bound to proceed. This chapter examines pre-exchange matters; the process by which contracts are actually exchanged; and matters that should be attended to immediately after exchange has taken place. It also considers the risk and responsibility for buildings insurance, and the consequences of the buyer occupying the property before completion.

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