CONVEYACING

Question 1

How can the transfer of a freehold estate be achieved?

Answer 1

• sale
• will
• gift
• operation of law (bankruptcy etc)

Question 2

What are the 3 stages of sale of a freehold estate?

Answer 2

1. Exchange of contracts (voluntary and not legally necessary)
2. Completion of the Deed
3. Registration

Question 3

What are the formalities needed for a valid land contract?

Answer 3

Must comply with s2 LP(MP)A 1989:

• The contract must be inwriting.
• It must containall the expressly agreed terms.
• It must besigned by both parties.

Question 4

Is an estate contract legally binding?

Answer 4

Yes

Question 5

What are the formalities needed for a valid deed?

Answer 5

Must comply with s1 LP(MP)A 1989:

• A deed must be clear on the face of the document that it isintended to be a deed.
• The deed must bevalidly executed (Must be signed by the seller in the presence of a witness. Buyer doesn’t have to sign the deed.)
• The deed must bedelivered (Usually dated)

Question 6

What is a TR1 form?

Answer 6

A document which is a standard form of transfer feed

Question 7

At what point does legal title pass for unregistered land?

Answer 7

After the deed has been validly completed. The sale triggers a legal requirement to registered the land for the first time at the Land Registry (ss4 and 6 LRA 2002)

Question 8

At what point does legal title pass for registered land?

Answer 8

After registration (s 27(1) LRA 2002)

Question 9

How is registration completed?

Answer 9

The buyer sends the completed deed to the Land Registry

Question 10

How long does a buyer have to register their newly purchased unregistered land?

Answer 10

The new owner must register the land on the land register for the first time (first registration) within two months of completion, otherwise the legal title will revert back to the seller (ss 4 and 6 LRA 2002.)