Drafting PLP

Question 1

Permission

Answer 1

The Seller must obtain LBC…
The Seller will, on or before the Completion date, obtain a Regularisation certificate to approve the building of…
The Buyer/Seller will obtain planning permission…
Trigger for completion e.g.
10 days after the expiry of any period during which PP can be challenged

Question 2

Indemnity

7.6.5

Answer 2

The Transferee covenants with the Transferor to observe and perform the covenants contained in item X of the Charges Register of Title Number XXX and to indemnify the Transferor against any liability for any future breach and non-observance.

Question 3

Vacant possession

Answer 3

The Seller will hand the buyer, on Completion Date, a Declaration Waiver, in the form attached to this contract signed by X and dated at the date of this contract.

Question 4

Specified Incumbrance

Remember mortgages do not apply! 4.1.2.(d)

Answer 4

The Property is sold subject to the matters contained as referred to items X and Y in the Charges Register of Title Number XXXX

Question 5

Contents and fixtures

Answer 5

If the Seller (e.g. gets LBC) from X Council, the Seller will remove FIXTURE currently affixed where and make damage any good caused to the property to the reasonable satisfaction of the Buyer.

Question 6

Insurance and restrictive covenants

Answer 6

The Seller will, before or on the Completion date, ensure that the X referred to in Charges Register of Title number XXX will be put in a good state of repair.

The Seller/Buyer will obtain RC insurance policy in the form attached in relation to the Seller’s past breach of covenent X in Register of Title number XXX and will provide the Butyer with the ORIGINAL POLICY on the COmpletion date.

Question 7

Deposit

Answer 7

SCPC 3.2.1 shall not apply.

this is if deposit is 5%

Question 8

Sale by co-owners

Answer 8

If there is only one TIC, a second trustee will have to be appointed so as to overreach beneficial interest.
Death certificate + Deed of Appointment.

Question 9

Entry

Answer 9

The Buyer will be allowed access to the property between exchange and completion to decorate…

The ground floor is occupied by X under 10 year lease dated X. They will remain in occupation after completion.