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SQE2(FLK2) Mind > Land > Flashcards

Land Flashcards

1
Q

What are different Formulas for contract exchange?

A

A- one solicitor holds both parts and sends to the other
B- each send theirs
C- complex chains

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2
Q

What step makes property transaction legally binding?

A

Exchange of contracts

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3
Q

What is charge if late to completions?

A

4%

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4
Q

When does risk of damage to property burden pass to buyer?

A

On exchange of contracts

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5
Q

How long can a lease be before it needs registering?

A

7 years

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6
Q

Where are restrictive/ positive covenants found on what register (reg and unreg)

A

Registered land - charges register
Unregistered land - conveyance

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7
Q

How long before tenancy end can a landlord terminate

A

12-6 months before

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8
Q

Remedies for breach of leasehold covenant?

A

Lease before 1 jan 1996 - sue current tenant for privity of estate and previous for privity of contract

Post 1996 - AGA OR T released from liability as soon as assigns to another

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9
Q

Remedies for breach of covenant to pay rent

A
  1. Debt action - 6 year limitation (HC/CC)
  2. Commercial rent arrears recovery - enter property
  3. Pursue guarantor
  4. Forfeiture
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10
Q

Requirements for forfeiture

A

21 days non payment or breach of term

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11
Q

When can overreaching occur?

A

2 trustees - buyer takes free of any interest

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12
Q

When will an easement be binding?

A

UN REGISTERED LAND
Legal easement - binds world
Equitable - binds buyer if on land charges
Equitable (pre 1926) protected by doctrine of notice

REGISTERED LAND
before Oct 2003 - all legal/ equitable have overriding interest
After oct 2003- if express must be registered // if implied (actual notice, apparent on inspection, 1 year)

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13
Q

What is on each of the registers?

A

Property - description

Proprietorship - title

Charges - rights

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14
Q

When is a lease capable of being legal?

A

If done by deed

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15
Q

How old must be to be a good root title?

A

15 years old

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16
Q

Who must register equitable interest?

A

Person with equitable interest

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17
Q

3 types of notice to a right over land?

A
  1. Actual
  2. Constructive - via inspection
  3. Imputed - agent has knowledge
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18
Q

Types of remedy if breach legal mortgage?

A
  1. Possession
  2. Power of sale
  3. Debt
  4. Appoint receiver
  5. Foreclosure
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19
Q

Who can bring about forfeiture

A

Landlord (not a lender)

20
Q

When can mortgage lender bring about power of sale?

A

Breach of term / not pay rent for 3 months

21
Q

How can mortgage lender bring about foreclosure?

A

Not make 2 payments - must apply yo HC once legal date of redemption passed

22
Q

What is an Authorised Guarantee Agreement?

A

Released outgoing tenant from any liability from lease upon assignment

23
Q

When is a deed required for a lease

A

3years+

24
Q

When can you register a lease?

A

7 years +

25
Q

Before releasing mortgage what will lender receive?

A
  1. Cert of title
  2. Solvency search
  3. Clear OSIR in lender name
  4. Executed (not complete) mortgage deed
26
Q

What is a form TA13?

A

Lists mortgages, undertakings and whether they have been discharged

27
Q

Whose name id pre completion search done on?

A

Reg land - mortgage lender
Unreg land - owners name

28
Q

What time must money be given on day of completion?

A

2pm - if not next day - or pay comp

29
Q

How long to register new charge at CH?

A

21 days

30
Q

How long after purchase of property to pay tax?

A

14 days

31
Q

What forms are used to register land application?

A

Reg - AP1
Unreg - FR1

32
Q

What is rule in Tulk v Moxhay?

A

Burden can run with the land if
A. Negative covenant
B. Time of creation benefits dominant land
C. Touches and concerns the land
D. Intend to burden servient land
E. Owners of servient land have notice to bind them

33
Q

Methods if enforcing positive covenants?

A
  1. Lease
  2. Indemnity covenant
  3. Doctrine of mutual benefit and burden
34
Q

What form for pre contract enquiries?

A

TA06

35
Q

Can solicitor act for buyer and seller?

A

Never - even if common interest

36
Q

What stamp duty land tax relief is there for first time buyer?

A

500k or less purchase - no tax on first 300k then 5% on £300-500k

37
Q

What is the etridge principle?

A

If business loan on matrimonial home then must meet face to face with wife and explain risk

38
Q

Do changes within a class require permission?(planning permission)

A

No

39
Q

Who drafts contract in sale

A

Seller

40
Q

Who prepares pre exchange report on sale?

A

Buyer

41
Q

Who drafts transfer deed on sale

A

Buyer

42
Q

What is usually most acceptable form of root title for unregistered land

A

Conveyance (15years old+)

43
Q

What phrase evidences an easement

A

“Accepting and reserving”

44
Q

What is rule in Halsall v Bryell

A

If buyer receives a benefit then must contribute to maintenance

45
Q

Difference between joint tenancy and tenancy in common

A

Joint tenancy - survivorship

Tenancy in common - pass by estate (each share)

Assumption of tenancy in common unless restriction

46
Q

What happens if tenancy in common one passes away?

A

Another legal owner needs to be appointed to overreach equitable interest - pay to 2 trustees

SQE2(FLK2) Mind (4 decks)

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