Property and Land Flashcards
Can a solicitor act for a buyer and seller of property?
No. Common interest does not apply to property purchases.
Can a solicitor act for a buyer and lender?
Yes if the mortgage is on standard terms and there is a substantially common interest.
Can covenants be legal?
No.
Can a periodic lease be legal?
Yes. All leases can be legal.
Does exchange of contracts create an equitable interest in land?
Yes.
What are the SLDT bands for property?
0 up to 250k.
5% up to 925k.
10% up to 1.5m
12% for anything above.
What are the SLFT bands for first time buyers of property less than 625k?
0 up to 425k.
5% up to 625k.
When is VAT compulsory for the sale of commercial property?
If it was completed within the last three years and is a new property.
Is VAT for old commercial properties compulsory?
No it’s optional.
Is VAT usually charged on residential properties?
No.
What type of lease does not need to be registered?
Any lease lasting seven years or less.
What is the period of a periodic tenancy?
How often rent is paid.
How much notice must be given to end a periodic tenancy?
At least one full period.
Does a parole lease need to be created by deed to be legal?
No. It can be agreed upon orally.
Can an option be legal?
No.
If I pay a lump sum payment for a three year lease, is it a parol lease?
No because I’ve paid a premium.
When will equity intervene to recognise a lease not created by deed?
Agreement is in writing and signed with all express terms and tenant must have clean hands.
Are non-attached garden sculptures chattels or fixtures?
Fixtures if they are part of the ‘architectural design’ of the garden.
When is an easement legal?
When it is for a defined period of time or ‘indefinitely’ - when it has the subject matter of what could be a grant.
What happens if there is a dispute between tenants in common about selling a property?
Any of the tenants may apply to the court for an order at the court’s discretion.
What is the period of serving an enforcement notice in respect to changes of use?
4 years.
What is the period of serving an enforcement notice in respect of breaching planning control?
10 years.
Does change of use amount to development?
If it is not within the same category of use.
What type of building work does not amount to development?
Internal building work.
What needs to be obtained whenever building works are to be done?
Building regulations consent.
Can you be a legal owner of property as a minor?
No.
What is required for severance of a joint tenancy in equity?
Notice in writing.
Sale of share in writing.
Mortgaging share.
Mutual agreement.
Will an unread letter be a valid notice of severance? When is the letter invalid notice?
Yes. Only invalid if not delivered.
Is a flood search compulsory for all properties?
It’s not compulsory but should be done for all properties regardless of distance to rivers.
What is usually the best root of title?
The oldest conveyance.
Which form is submitted to Land Charges to inquire on title issues to an unregistered title?
Form K15.
What is a sui generis use?
In a separate class of its own use.
Is it necessary to do a land charges search against a lender?
No.
What is the time limit for prosecution of breach of building regulation?
Two years.
What is the purpose of a canal and river trust search?
See if you’re responsible for maintaining waterways and banks.
What is revealed by an Optional Enquiry of the Local Authority (CON290)?
Planning and building regulation history of property.
What should be done if the conveyance mentions mining?
- Search with Coal Authority.
- Index Map Search.
- Check for signs of subsidence.
What is revealed by a Railway search?
Whether you’re liable for repairing fences between property and railways.
For which transactions do the Standard Commercial (SC) Conditions apply?
All residential transactions and simple commercial ones.
For which transactions do the Standard Property Commercial Transactions (SCPC) apply?
High-value commercial.
Does a buyer need to insure property on exchange of contracts or after completion?
On exchange of contracts.
Is it a legal requirement for a contract for sale of land to include standard conditions?
No but it is advised.
Does a contract for the sale of land need to be written and signed?
Yes.
Can someone sell with limited title guarantee and SCPC?
Yes if they alter the contract with a special condition.
What is full title guarantee?
The seller covenants that the property is free from incumbrances outside their reasonable knowledge.
What deposit do the SCPC conditions provide for?
10% of the purchase price.
What is Formula A of exchanging contracts?
One party sends the other party’s solicitor a signed contract.
What is Formula B of exchanging contracts?
Both solicitors have their own signed contracts and exchange them.
Under the SCPC, can the solicitor pass on the 10% deposit after receiving it?
No. They are meant to hold the deposit as a stakeholder until completion and not before.
Which seller needs to include VAT in their purchase price?
Insurance companies.
To whom should the certificate of title be addressed during a property transaction?
To the buyer and the lender if there is one.
Do the SCPC provide that the buyer will pay VAT upon completion?
Yes.
What is the effect of delayed completion due to buyer default?
The buyer pays the interest specified in the front page of the contract or, if left blank, the Law Society’s interest rate.
When can a seller use the deposit made by the buyer under the SC?
When they are buying a property to live in.
What is required for an easement to be created by prescription?
Someone must have exercised a right without permission for more than 20 years.
If there was permission, it cannot be created by prescription.
What is required for an easement to be created through the rule in Wheeldon v Burrows?
Continuos, apparent, necessary right that was used by the seller at the time of sale.
What is required for an easement to be created through S 62?
Prior to
A conveyance
The dominant tenement enjoyed the right.
There is diversity of occupation at the time of conveyance I.e the dominant and submissive tenement are different people.
What is the condition for the right to light to be defined as an easement?
The light must come in through a defined opening like a window.
What is the rule in Batchelor v Marlow?
An easement must leave reasonable use of the land for the grantor. If not, it cannot be an easement.
Which method of transferring money is used in Formula B?
Banker’s draft or cheque.
What method of transferring money is used in the SCPC?
Electronic method.
What are the conditions for over-reaching?
You take a land free from any beneficiary interests under a trust if you buy it from at least two trustees.
Who is Equity’s Darling?
You take a land free from any equitable interests if you are a bona fide purchaser and had no notice of the interests.
What type of lease needs to be registered to be binding and legal?
Leases LONGER than seven years.
Which register has the record of rights that exist over the land?
The Charges register.
Which forms are submitted for searches against registered land?
Os1 for whole property.
Os2 for part.