Definitions - I
- Indemnity Contribution
- Indemnity insurance is taken out by all Solicitors to cover losses to clients arising from errors or fraud in dealing with their matters.
The supervising solicitor is required by the Law Society to pay for this insurance in respect of every transaction. Some solicitors recover the premium from their clients. - Indemnity Insurance
- The Law Society and the CLC insist that all Solicitors and all Licensed Conveyancer firms must take out insurance to the value of £1,000,000 or more to cover defective work or fraud by that firm of its clients.
- Index Map Search
- A search at the land registry to see if a property is registered or unregistered.
- Instructions
- This means authorisation by the client to the conveyancer. The client must give the conveyancer written instructions to act on his behalf in the property sale, purchase, re mortgage or transfer. After that the conveyancer will from time to time ask the client for instructions as to how the client wishes to proceed. For instance what date the client wants to move on.
