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TIme Limits > PLP - time limits/rules > Flashcards

PLP - time limits/rules Flashcards

1
Q

Types of structural survey for freehold properties

Freehold property

A

Full structural survey (extensive renovations req/listed)
Homebuyers report (reasonable condition <150yrs)
Basic (likely minimum for a mort.)

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2
Q

Is VAT applied to FH transactions and who pays it?

Freehold property

A

some commercial property (buyer pays)

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3
Q

Title documents a seller prepares

Title investigation (registered)

A

LR official copies of register + LR title plan + docs referred to

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4
Q

Content of property register

Title investigation (registered)

A

Describes property and rights benefitting

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5
Q

Content of proprietorship register

Title investigation (registered)

A

Name/address of owners, entries affecting ownership, class of title

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6
Q

Content of charges register

Title investigation (registered)

A

rights burdening the property

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7
Q

Classes of title

Title investigation (registered)

A
  1. title absolute
  2. qualified (specific defect)
  3. Possessory
  4. Good Leasehold title (only leasehold)
  5. None
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8
Q

Root of title requirements

Title investigation (unregistered)

A
  1. Adequately describe the land
  2. Deals with legal + beneficial title
  3. Casts no doubt on seller’s title
  4. Dated more than 15 years ago (before compulsory reg)
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9
Q

What buyer’s solicitor should check on title investigation

Title investigation (unregistered)

A

Land not already reg + root of title meets reqs + chain of title and validly executed/stamped deeds

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10
Q

Deed requirements

Title investigation (unregistered)

A

Clear on the face it’s a deed + signed + delivered as deed

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11
Q

Where rights burdening unreg land are found

Title investigation (unregistered)

A

Land Charges Dep of LR

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12
Q

When restrictive covenants bind unregistered land

Title investigation (unregistered)

A

If the burden is registered as a D(ii) Land Charge

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13
Q

When will positive covenants bind unregistered land

Title investigation (unregistered)

A

Only if chain of indemnity covenants

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14
Q

Searches for every purchase

Pre-contract searches/enquiries

A
  • Local search (local authority CON29 + local land charges LLC1 + CON29O)
  • Drainage and water enquiries
  • Desktop environmental
  • Chancel repair liability
  • (Possibly index map)
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15
Q

Additional search for unregistered land

Pre-contract searches/enquiries

A

Central Land Charges Search

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16
Q

Additional searches for a company (seller)

Pre-contract searches/enquiries

A

Companies search

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17
Q

Additional search if property is not sold at market price or with a mortgage and always when buying from a individual

Pre-contract searches/enquiries

A

bankruptcy search (K16)

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18
Q

Optional searches

Pre-contract searches/enquiries

A
  • CON29O (including commons registration search)
  • Highways search
  • Coal mining search
  • Cheshire salt
  • Tin, clay and limestone
  • Phase I/Phase II survey
  • Flood search
  • Utility providers
  • Railways - overground, underground, crossrail or HS2
  • Waterways
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19
Q

Article 4 direction

planning permission and building requirements

A

Local council alters a GDPO

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20
Q

What confirms planning permission

planning permission and building requirements

A

Certificate of Lawfulness

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21
Q

Consequences of a breach of planning permission condition

Planning Permission

A
  • Planning contravention notice
  • Enforcement notice (restore land at own cost within 28 days)
  • Stop notice
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22
Q

Time limit to bring action for no planning permission building works breach

planning permission

A

4 years from substantial completion

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23
Q

Time limit to bring action for planning permission for change of use

planning permission

A

10 years (4 years for change to dwelling house)

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24
Q

Time limit to bring claim for breach of planning condition

Planning Permission

A

10 years from breach

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25
Q

Time limit for enforcement notice of breach of building regulations

planning permission

A

12 months from completion – 28 days to fix (no limit for unsafe work)
Prosecution brought within 2 years

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26
Q

Standard enquiries from buyer’s solicitor for commercial property

enquiries

A

Commercial Property Standard Enquiries CPSE

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27
Q

Standard enquiries from buyer’s solicitor for residential property

Enquiries

A

Law Society Conveyancing Protocol (not for new build homes)

28
Q

Protocol forms used in residential property

Enquiries

A

TA6 – property info
TA10 – fittings and contents

29
Q

Industry standard certificate on title for commercial property

exchange

A

CLLS City of London Law Soc Certificate on Title

30
Q

Standard sale contracts (residential)

Exchange

A

Standard Conditions of Sale (SCS) (obligatory if Law Soc Conveyancing Protocol)

31
Q

Standard sale contracts (commercial)

Exchange

A

The Standard Commercial Property Conditions (SCPC)

32
Q

Rank title guarantees

Exchange

A

Full title guarantee (default for SCS/SCPC)
Limited title guarantee
No title guarantee – no remedy

33
Q

Time set for completion unless express

Exchange

A

20 working days from date of contract before 2pm

34
Q

Standard deposit rate

Exchange

35
Q

VAT not included in purchase price

Exchange

A

Commercial property (20% on top)

36
Q

Buyer’s solicitor preparations for completion

Completion

A
  • Draft purchase deed (TR1 reg land, TP1 sale of part)
  • submit requisitions on title/TA13 inc undertaking that mortgage will be discharged
  • pre-completion searches
  • mortgage finance
37
Q

Seller’s solicitor pre-completion steps

Completion

A
  • Agree purchase deed (signed by seller)
  • reply to reqs on title/TA13 within 4 days
  • execute purchase deed (not dated yet)
  • redeem mortgage
38
Q

Documents buyer’s solicitor sends to LR

Completion

A
  • TR1 + fee + DS1 (discharge mortgage evidence)
  • new mortgage deed + MR01 (company is the buyer)
  • evidence of app of 2nd trustee (within OS1 priority period)
39
Q

when do you have to register a charge by

Completion

A

21 days (mortgage deed MR01)

40
Q

When do you have to register the buyer’s ownership at LR

Completion

A

End of priority period

41
Q

when do you have to pay SDLT/(LTT for wales)

Completion

A

14 days from effective date (usually completion, can be occupation)

42
Q

time is of the essence after a notice to complete

Completion

A

10 working days (SCS after completion date only; SCPC from the day of completion)

43
Q

When completion deemed to take place after contractual time missed

completion

A

next working day

44
Q

Priority period for OS1 and OS2 search

Completion

A

30 working days

45
Q

Form and priority period for UR land

Completion

A

K15 and 15 working days

46
Q

Form and priority period for bankruptcy search

Completion

A

K16 and 15 working days

47
Q

Leases that must be registered on completion

Completion

A

Only more than 7 years (AP1)

48
Q

Daily interest calculation for completion compensation

Completion

A

Daily interest x days from and including completion date

49
Q

How long is the notice given by Local Authority for enforcement notice (PP)

PP and BR

A

28 days
needed before a stop notice

50
Q

Time limit for enforcement notice in building regulations + time to fix

PP and BR

A

one year after completion
28 days to fix

51
Q

Time limit for enforcement after discovering breach of Bulding Regulation for Local Authority to prosecute

PP and BR

52
Q

Time from initial construction can be prosecuted for BR

PP and BR

53
Q

Time limit for injunction on unsafe work

PP and BR

A

No time limit

54
Q

Formalities for leases

PP: Grant of lease

A

3 years or more – created by deed
Under 3 years – writing/orally

55
Q

Who does the Code for Leasing Business Premises apply to

Grant of lease

A

The Royal Institution of Chartered Surveyors (RICS) reg/members

56
Q

Mandatory requirements for Code for Leasing Business Premises

Grant of lease

A
  • Negotiations are constructive/collaborative,
  • unrep party advised of existence of code,
  • letting agent/LL responsible for heads of terms compliance
57
Q

Enquiries raised by tenant’s solicitor pre-exchange

Grant of lease

A

CPSE1 CPSE3 + same as FH

58
Q

Pre-completion searches/checks

grant of lease

A

OS1 (whole) OS2 (part) OS3 (not reg)

59
Q

What form to register a lease over 7 years

Grant of lease

A

AP1 (registered)/FR1 (unregistered)

(letter of consent needed if LL’s FH title charged)

60
Q

Time for responding to application for consent for alterations

alterations

A

Reasonable time (28 days)

61
Q

New tenant inform LL of underlet/assignment

Alienation

A

Within one month

62
Q

Signed declarations for contracting out

Business Tenancies

A

Lease completed more than 14 days from warning notice

63
Q

Statutory declarations for contracting out

Business Tenancies

A

Lease completed in less than 14 days; independent sol.

64
Q

Time tenant has to apply for court order for new lease

Business Tenancies

65
Q

Time after a court order for new lease/termination will existing tenancy end?

Business Tenancies

A

3 months and 21 days

66
Q

Limitation period for debt action (unpaid rent)

Lease termination

67
Q

Time tenant must counter notice to a s146 notice (intention to forfeit)

Lease termination

TIme Limits (9 decks)

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