Conveyancing in Action 4

Question 1

CiA4

Method(s) of Exchange

3

Answer 1

1. Physical/Personal
2. Postal Exchange (not chain trans)
3. Telephone Exchange (most common)

Question 2

CiA4

Law Society 3 Formulaes for Phone Exchange

3

Answer 2

Formulae A- 1 CVA has both signed parts
Formulae B- Each CVA holds their clients part
Formulae C- for linked transactions/chain

Question 3

CiA4

Estate Contract

1

Answer 3

Following exchange the Buyer is only the owner in equity and an estate contract can be protected by notice on the register - not standard practice but worthwhile if been a dispute or long gap between exchange and completion

Question 4

CiA4

Pre-Completion Searches

3

Answer 4

Land Registry Search (OS1/OS2)- 30 working day priority period
Bankruptcy search (K16)- 15 day working period
Company Search (if seller a company)

Question 5

CiA4

Joint Buyers need to Execute…

Answer 5

1. Declaration of Trust within TR1 Transfer Deed Box 10
2. (or) Form JO