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SQE 1 > Property/Land: EXTRA > Flashcards

Property/Land: EXTRA Flashcards

extra things from paper flashcards

1
Q

Who deduces title?

A

sellers solicitor

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2
Q

Who drafts the contract and who drafts the transfer deed

A

Contract: sellers solicitor
Transfer deed: buyer

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3
Q

Who investigates title?

A

buyers solicitor

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4
Q

Who does the pre contract searches

A

buyers solicitor

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5
Q

Who drafts the transfer/mortgage deed?

A

buyers solicitor

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6
Q

Who does the pre completion searches

A

buyers solicitor

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7
Q

What does the following in the proprietorship register indicate: “RESTRICTION: No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court”

A

That the equitable interest is held as tenants in common

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8
Q

What may a local land charges search (LLC1) reveal?

A
  • Planning permissions
  • CPO
  • Financial charges/restrictions imposed by pub authorities under statute
  • Tree Preservation Orders
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9
Q

What may a standard enquiries (CON29) local search reveal?

A
  • Highways/Liability for road repair
  • Restrictions on development/Enforcement restrictions on planning
  • Contaminated land
  • Traffic restrictions, proposals
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10
Q

What may a local optional search (CON29O) reveal?

A
  • Env/pollution notices
  • Rights over common land
  • Hedgerows
  • Urban development zones
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11
Q

Where will you find a mines and minerals reservation

A

Registered: property register
Unregistered: conveyance

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12
Q

If there is a mines and minerals reservation, what should be done in terms of pre contract searches?

A
  1. Coal Authority search on CON29M
  2. Index Map search at LR on SIM, to check whether the mines and minerals are registered under a separate title
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13
Q

What is the point of an index map search and land charges dept?

A

See if registered already/pending 1st registration
3rd parties registered interest ie mining rights

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14
Q

meaning of interest in possession

A

entitled to immediate possession (as opposed to interest in remainder)

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15
Q

When can a deposit held a stakeholder be used on a related purchase?

A

When the contract contains the SC only (NOT the SCPC)
SCPC-if buyer consents

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16
Q

What are VAT sensitive buyers and why?

A

Don’t make taxable supplied in course of business (ie. Bank/building society/insurance co.) so cant recover input tax

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17
Q

Who will a certificate of title be addressed to?

A

often buyer and lender
sometimes just the lender

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18
Q

When is the certificate of title provided?

A

Draft=before exchange
Final=before completion

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19
Q

Will the buyers solicitor report to the lender on the results of a title investigation?

A

Yes, even if lender separately represented

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20
Q

What is the risk for a solicitor if information in the certificate of title is wrong?

A

the lender can sue the firm which gave the certificate because there are warranties as to the correctness of the information contained within the certificate of title.

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21
Q

Mortgages: Lenders 5 remedies

A
  1. Possession
  2. Power of sale
  3. Debt action
  4. Appointing a receiver
  5. Foreclosure
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22
Q

Mortgages: what lenders powers can be exercised as soon as the mortgage is completed

A

Possession

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23
Q

Mortgages: what lenders powers cant be exercised until the legal date of redemption has passed

A

Foreclosure
Debt action

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24
Q

Mortgages: what lenders powers cant be exercised until the power exists, has arisen, is exercisable

A

Power of sale
Appointing a receiver

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25
Q

Mortgages: which lenders powers WONT end a mortgage

A
  • Taking possession
  • Debt action
  • Appointing a receiver
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26
Q

Mortgages: what entry will be on the Proprietorship Register in relation to a mortgage?

A

a restriction providing that no disposition of the land in in the registered title can take place without the lender’s consent

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27
Q

Mortgages: what entry will be on the Charges Register in relation to a mortgage?

A

the mortgage itself (x2 entries)

28
Q

Deadline for registering mortgage if buyer is a co vs individual

A

CH for Co: 21d completion
LR for individual:within priority period

29
Q

Completion: deadline for applications to LR

A

within priority period

30
Q

How to calculate contractural compensation for delayed completion

A

Contract rate on balance of purchase price
Calculate daily rate (amount /356)
Times by number of days delayed

31
Q

Form for applying for 1st registration

A

FR1

32
Q

Form for registering buyer as new registered proprietor in registered land

A

AP1

33
Q

How should an interest under a trust be protected in registered land?

A

As a restriction in the proprietorship register.

34
Q

How are legal leases, legal easements and legal mortgages protected in registered land?

A

Registrable disposition under s27 LRA 02-must be registered as restriction at land registry before new owner registered

35
Q

Registered land: what does Sch 3 para 3 protect?

A

legal easements/ profits created by implication or prescription after 12 Oct 2003
IF
1. buyer had actual knowledge before purchase
2. OR easement would have been obvious on a reasonably careful inspection of the land
3. OR easement used by person entitled in the year preceding the disposition of the land

36
Q

Registered land: what does Sch 3 para 2 protect?

A

IARE if person is in actual occupation on date of completion
IF:
1. Interest is proprietary (not personal/home right) in nature
2. Occupation obvious on reasonably careful inspection of land
3. OR wasn’t obvious but they had actual knowledge
□ Will be lost if: When asked, person holding interest failed to disclose when they could have reasonably have been expected to do so

37
Q

When does a statutory home right end?

A

Death or divorce (not separation)

38
Q

Can the landlord forfeit after using CRAR and why?

A

No because forfeiture acknowledges the existence of a lease and may therefore waive the landlord’s right to forfeit

39
Q

What incumbrances should be mentioned in the contact?

A

Just the ones the property is being sold subject to

40
Q

How to determine if equitable interest held as JT or TiC

A
  1. 4 unities? (possession, time, interest, title)
  2. Express declaration in deed
  3. words of severance in deed
  4. Equity presume a TiC? (partnership/business prop, lenders, unequal contrib to purchase price of non home)
    if 4 unities only=JT
41
Q

7 methods of severance

A
  1. Formal written: to sever immediately, correctly served
  2. Alienation (sale, gift, mortgage, lease, contract to dispose of equitable interest)-,its be signed writing
  3. Mutual agreement
  4. Mutual conduct over time
  5. Homicide
  6. Bankruptcy
  7. Post acquisition money management
42
Q

Freehold covs: liability of original parties?

A

Privity of contract:
Original covenantee: can enforce against anyone with burden unless parted with land
Original covenantor: liable forever unless covenant personal

43
Q

Rates of VAT for property

A

Zero rated: Sale of new build by developer (subsequent sale of residential prop is not in course of business=no VAT)
Exempt subject to option to tax: Sale of old commercial freehold building
Standard rated 20%: Sale of new freehold commercial building

44
Q

Classes of title

A

▪ Absolute freehold (or leasehold)
▪ Possessory freehold (or leasehold)
▪ Good leasehold
▪ Qualified freehold (or leasehold)

45
Q

What 6 pre contract searches should be done for every transaction?

A
  1. survey/inspection
  2. local search
  3. flood
  4. water and drainage
  5. pre contract enquiries to seller
  6. environmental
46
Q

Form for standard pre contract enquires to seller

A

CPSE: disputes, covs, planning permission, 3rd party in occ, boundary maintenance, VA+T

47
Q

What is ‘development’?

A

The carrying out of building, engineering, mining or other operations (B EMO)in, on, over or under land, or the making of any material change in the use of any buildings or other land
NOT Maintenance, improvement or other alteration of any building works which affect only the interior/don’t materially affect the external appearance

48
Q

When is planning permission needed?

A

Development:
Material changes of use to/from another class NOT within same class

49
Q

When will planning permission lapse?

A

normally 3y
local planning authority can serve completion notice stating permission will cease to have effect if it hasn’t been completed by expiration period

50
Q

What matters dont need express planning permission/have automatic planning permission?

A

developments within the curtilage of a dwelling house (such as extensions below a certain size) and minor operations (such as painting the exterior of a building or installing a CCTV camera).
Specified changed between use classes and changes from certain sui generis uses

51
Q

Types of enforcement notice for planning control

A
  1. Enforcement notice (Specify breach/steps to be taken/stopped)
  2. Stop notice (if enforcement notice served first)
  3. Breach of condition notice (says in breach and to stop)
  4. Injunction
52
Q

When does a planning permission enforcement notice become effective?

A

28d after service

53
Q

Time limits for planning permission enforcement in eng/Wales

A

ENG:
10y of alleged breach
4y for operational development (building work), changing use to single dwelling house, if works completed before 25 april 2024

WALES
10y (4y for operational development/changing use to single dwelling house)

54
Q

Can the time limits for enfacement of planning permission be extended?

A

LPA can apply to magistrates court for panning enforcement order outside time limit

55
Q

Time limit for BCA to prosecute for breach of building regs

A

Wales-within 2y
England-no time limit

56
Q

Time limit for BCA to serve enforcement notice requiring work to be altered/removed

A

10y

57
Q

Time limit for BCA to take out injunction if work is unsafe

A

none

58
Q

meaning of ‘Sui generis’ use for planning permission

A

uses that could have adverse effects on locality
changes to and from them always require pp

59
Q

3 Formulas for exchange and 3 ways to exchange

A

A-1 sol has both signed parts
B-both hold own signed parts
C-synchronise chain

Ways: in person, post, phone

60
Q

Methods of completion

A
  1. In person: buyer sol attend seller office
  2. By post: Law Soc Code for Completion by Post, seller sol act as agent of buyer at no cost, buyer sol set out in writing what to be done)
61
Q

When does title pass?

A

Unregistered: on completion
Registered: when buyer registered at LR as propitiator

62
Q

Form for pre completion searches in registered land/unregistered land

A

R:
OS1-sale of whole
OS2-sale of part

UR: K15

63
Q

How long is the priority period conferred by the pre completion searches in registered/unregistered lands and how is it obtained?

A

Registered: LR search against title since ‘search from date’=30d pp (register by 12pm on last day)
Unregistered: Land charges search on K15=15d priority period

64
Q

When should completion occur

A

20 working days from exchange at 2pm

65
Q

Effect of serving notice to complete

A

Makes time of the essence
Gives 10 working days to complete out can rescind contract

66
Q

Forms to discharge sellers mortgage

A

□ LR form DS1 (send to sellers sol to forward to buyers sol)
□ E-DS1 electronic discharge via Land Registry portal (sellers sol needs to send notice of discharge to buyers sol)
□ Electronic Discharge system, sending message to Land Registry which automatically removes charge from register (sellers sol needs to send notice of discharge to buyers sol)

67
Q

Under the SC/SCPC who is required to pay contractual compensation for delayed completion?

A

SC-buyer AND seller can be required to pay
SCPC-ONLY buyer can be required to pay

SQE 1 (46 decks)

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