Property Practice

Question 1

What are the Landlords solicitor’s pre-completion formalities in a leasehold transaction?

Answer 1

• Agree lease
• Responsible for engrossing (getting it ready for signing)
• Landlord to sign lease
• Prepare a completion statement

Question 2

What are the Tenants solicitor’s pre-completion formalities in a leasehold transaction?

Answer 2

• Agree lease
• Tenant to sign lease
• Pre-completion searches
  
  • OS1 – whole – freezes for 30 working days
  • OS2 – part – freezes for 30 working days
  • OS3 – not registerable (under 7 years) –
    does not give priority
• Request funds from tenant

Question 3

What are the Tenants solicitor’s pre-completion formalities?