Property (Freehold) - Forms and Certificates (14) Flashcards by Emily Noble

Q

Pre-Contract Stage

What is the name of the certificate that provides information on energy efficiency?

A

Energy Performance Certificate

Provides information on energy efficiency. Useful to determine future energy costs.

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Q

Pre-Contract Stage

What is the document that is prepared by the buyer’s solicitor for the lender certifying that the seller can sell and that the property is not affected by legal issues?

A

Certificate of Title

Document prepared by buyer’s solicitor certifying that the seller can sell and that the property is not affected by legal issues. Important for a lender to receive. Differs for residential and commercial.

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Q

Pre-Contract Stage

What is the name of the document that details the terms and conditions of a mortgage loan, i.e. interest, repayment, premiums?

A

Mortgage Terms

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Q

What is the name of the legal document that creates the mortgage, giving lender right to possession in instance of default?

A

Mortgage Deed

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Q

Pre-Contract Stage

What are the documents proving evidence of title? If registered, shows registers. If unregistered, may need to construct an ‘epitome of title’. Reveals restrictions and notices over the land.

A

Title Deeds/Official Copies

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Q

Pre-Contract Stage

What is the name of the preliminary contract of sale outlining terms and conditions of property. Is revised before exchange. Drafted by the seller’s solicitor.

A

Draft Contract

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Q

Pre-Contract Searches and Enquiries

What is the name of the form completed by seller providing information about property, such as utilities and disputes. Not obliged to respond to most queries (caveat emptor)?

A

Form TA6

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Q

Pre-Contract Searches and Enquiries

What is the name of the Local land charges search, containing details of legal restrictions over property, such as tree preservation orders, smoke restriction orders, conservation designations orders etc?

A

Form LLC1

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Q

Pre-Contract Searches and Enquiries

What is the name of the standard form of enquiries from local authority, i.e. planning permissions, environmental risk?

A

Form CON29

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Q

Pre-Contract Searches and Enquiries

What is the name of the optional form used to request additional information from local authority, such as highway matters and proposals for new developments and common rights?

A

Form CON29O

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Q

Pre-Contract Searches and Enquiries

What is the name of the form used to request information about water and drainage?

A

Form CON29DW

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Q

Pre-Contract Searches and Enquiries

What is the form used to request information about water and drainage for commercial properties?

A

Form CommercialDW

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Q

Pre-Contract Searches and Enquiries

What is the form used to request information about mining activity and subsidence risk?

A

Form CON29M

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Q

Pre-Contract Searches and Enquiries

What is the form used to request information about other registered titles over the same land?

A

Form SIM

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Q

Pre-Contract Searches and Enquiries

What is the search name for land charges search against current and former owners of the property?

A

Form K15

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Q

Pre-Contract Searches and Enquiries

What is the name of the solvency search against individual owners of the property, and the buyer for a lender?

A

Form K16

Q

Exchange

What is the name of the report prepared by buyer’s solicitor summarising aspects of pre-contract stage. Includes details on title, restrictions etc?

A

Pre-Contract Report

Q

Exchange

What is the legally binding contract tying parties to the transaction in the lead up to completion?

A

Contract of Sale

Q

Exchange

What does a buyer need to get after exchange in order to protect themselves from risk?

A

Insurance policy

Risk transfers to buyers on exchange, so an insurance policy is usually necessary.

Q

Precompletion

What is the name of the preliminary version of deed of transfer, drafted by buyer’s solicitor?

A

Draft Transfer Deed

Q

Pre-completion

What is the name of the form used to provide 30 working day priority period to register title (registered)?

A

Form OS1/OS2

Q

Pre-completion

What is the form used to provide 15 working day priority period to register ownership (unregistered)?

A

Form K15

Q

Pre-completion

What is the form used to check solvency of parties again (or use K15 if unregistered)?

A

Form K16

Q

Pre-completion

What is the name of the document detailing financial aspects of purchase to buyer, such as remaining balance, fees and disbursements, mortgage terms?

A

Financial Statement

# Pre-completion What is the name of the Completion Information Form between buyer and seller, confirming hand-over, payment method, date of completion. Seller’s solicitor will undertake to discharge the seller's mortgage on completion?

Form TA13

# Completion What is the name of the form used as a the deed of transfer for registered whole?

Form TR1

# Completion What is the name of the form used as a the deed of transfer for registered part?

Form TP1

# Completion What is the name of the formal notice requiring a party to complete if completion is delayed. Gives a period of 10 working days, after which an innocent party can rescind the transaction?

Notice to Complete

# Post-Completion What is the form used to discharge mortgage over property (maybe electronic - e-ds1)?

Form DS1

# Post Completion What is the form used to report sale to HMRC for stamp duty purposes (alongside payment). Required even if no SDLT due (LTT in Wales)?

Form SDLT1

# Post completion What is the form used to register charges or ownership at Land Registry?

Form AP1

# Post completion What is the form used to register any existing overriding interests at Land Registry?

Form DI

# Post-completion What is the form used to register property for the first time (triggered on sale)?

Form FR1

# Post-completion What is the form used for scheduling all documents provided to the Land Registry on first registration alongside form FR1?

Form DL

# Post-completion What is the form provided by Land Registry confirming first registration?

Title Information Document