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Schmid, Christoph U. --- "Legal Services in Conveyancing: A European Comparison" [2010] ELECD 124; in Bakardjieva Engelbrekt, Antonina; Nergelius, Joakim (eds), "New Directions in Comparative Law" (Edward Elgar Publishing, 2010)

Book Title: New Directions in Comparative Law

Editor(s): Bakardjieva Engelbrekt, Antonina; Nergelius, Joakim

Publisher: Edward Elgar Publishing

ISBN (hard cover): 9781848443181

Section: Chapter 13

Section Title: Legal Services in Conveyancing: A European Comparison

Author(s): Schmid, Christoph U.

Number of pages: 16

Extract:

13. Legal services in conveyancing:
a European comparison
Christoph U. Schmid

I. INTRODUCTION
Conveyancing markets range among the biggest markets in Europe. Indeed,
land and buildings account for between half and three quarters of country
wealth in most European economies. Thus, the overall value of UK houses is
estimated at more than £1 trillion (2006). In Germany in 2005, the taxable
turnover of real estate transactions amounted to 136 885 million, which corre-
sponded to a tax revenue of nearly 4.8 billion (figures of the Federal Ministry
of Finance). It is obvious that given these values the transactions costs associ-
ated with conveyancing services ­ that is all the agent, legal and technical
services needed for the transfer of land ­ have crucial implications not only for
buyers and sellers but also for the overall economy.
Legal services in conveyancing, on which this contribution will focus, are
in continental Europe traditionally rendered by liberal professionals such as
notaries and lawyers; the Scandinavian model of legally trained estate agents
who provide legal services, too, has not been adopted anywhere else. Lawyers
and notaries are not only among the oldest but also among the most regulated
professions in Europe. In a large number of Member States, regulations exist
which cover pricing (for example fixed fee scales), advertising (for example
restrictions or bans on comparative or price advertising), limitations on inter-
professional co-operation and business structure. Liberal professions also
enjoy a wide range of exclusive rights. Therefore, given these restrictions, it
may plausibly ...