Terrafirma Official CON29M
Terrafirma is first commercial organisation licensed by The Law Society as a Report Producer of the official CON29M Report.
As an official alternative to The Coal Authority CON29M, the Terrafirma CON29M Report provides expert interpreted answers to all 11 questions (14 for commercial properties) using Coal Authority licensed data and meets all the requirements as stipulated by the new Law Society CON29M (2018) guidance.
What is the CON29M?
Mining reports provide information on past, present and future underground and surface coal mining activity for any individual property or site in England and Wales. The CON29M is a legal form that provides reports on coal mining information for conveyancing. This is requested by solicitors on behalf of their clients as part of the conveyancing searches carried out when property or land is purchased in a coal mining or past coal mining area.
More data and interpretation at no extra cost
As holders of the first commercial license for the CON29M (2018) legal form, The Law Society has recognised the quality of Terrafirma’s data analysis, professional opinion, terms and conditions and suite of reports. The previous CON29M (2006) form raised questions which may have resulted in the need for further interpretation and additional reports, at an extra cost to the client and causing transactions in coal mining areas to experience delays. The official Terrafirma CON29M (2018), however, automatically includes this additional data and interpretation at no extra cost, resulting in a dramatic reduction in the number of delayed transactions.
The official Terrafirma CON29M offers many improvements including better data processes, risk screening and assessment which all help to ensure a prospective purchaser will have a better understanding of what coal mining risks face their property. This will eliminate the requirement for a solicitor to report on a liability they may not have detailed knowledge of and reduce the amount of time a solicitor spends reporting back to the client or the lender.
Read the Law Society Press Release by clicking here: