Post-completion Flashcards
What are the two post-completion steps?
Pay SDLT/LTT if necessary
Register the lease if necessary.
When must a lease be registered?
If it is more than 7 years. It will be given it’s own title number and noted against the landlord’s title.
Can a lease of more than 3 years up to 7 years be registered?
It does not need to be registered but can be noted against the landlord’s title.
If a lease is registrable what searches must be carried out?
If a lease is registrable, then an OS1 (lease of whole) or OS2 (lease of part) search should have been carried out before completion to give priority.
What forms are required to register the lease?
The tenant applies to register the lease using form AP1 (if the landlord’s title is registered) or FR1 (if the landlord’s title is unregistered).
A certified copy of the lease may be scanned and submitted electronically.
If the landlord’s title is charged, what will be needed?
A letter of consent from the lender will be needed.
What will the tenant’s solicitor receive on completion of the application?
On completion of the application, the tenant’s solicitor will receive two official copies (the new leasehold title and the updated landlord’s title).
How long does the tenant’s solicitor have to register the lease?
Have 30 working days to register the lease from the date of OS1 results date.
