SGS 1 Flashcards
What potential issues could arise in relation to a right of way?
AMAR
Is a private road the only means of accessing a property?
Could it be adopted?
Is it adequate?
Does it need to be maintained?
Is it registered on the burdened land? (if BL unregistered - caution against first registration?)
What must be checked in terms of the adequacy of a right of way and where can this information be found?
How can an inadequate right of way be remedied?
Times; means; restrictions; physical.
Property register
Get deed of variation with owner of burdened land pre exchange if necessary.
What would you need to enquire in terms of maintenance of a right of way?
With seller - any historic payments
Surveyor should physically check condition to establish any maintenance required.
How do you check if a right of way has been registered on the burdened land?
SIM
Official copies of burdened land (Charges Register)
What are the potential issues with +ve and -ve covenants?
may / will bind buyer
past breaches
future breaches (insurance premium depends on age of covenant and date of any past breaches )
What registers must be checked in relation to +ve covenants?
Charges
Proprietorship - IC? SCPC 7.6.5
What are the options to consider for past breaches of covenants?
Insurance
Retrospective consent from PWB
Upper Land Tribunal (only for -ve)
What is the issue with a future breach?
difficult to assess risk so expensive insurance (age of covenant relevant)
Has consent been obtained in the past? If so PWB has been tipped off!
What course of action would you take id there are multiple restrictive covenants imposed by same conveyance (same PWB).
Buyer + Seller proceed with same remedy for past + future breaches regardless of whether same covenant (i.e. same insurance policy and split premium)
What potential issues arise in relation to a mortgage?
What registered must be checked?
Must be redeemed by seller.
Mortgagee may need to consent to sale (if PART of land sold or another disposition e.g. grant of lease)
Charges / Proprietorship
What should you check if sale is by a company?
Heads of Terms
Search name and number at Companies House.
Why are third party interests an issue?
Someone with OI in AO may bind buyer
Check CPSE
Practically how would you protect against a third party interest?
Inspect property
Ask seller about any OIs and get deeds and other property docs.
Get anyone in AO to sign a waiver.
Mortgage discharge options?
Get form DS1 from seller’s solicitors after completion and submit to R to register buyer as new owner.
Seller’s lender directly sends s-DS1 to LR when it receives completion monies.
What is important when advising on a proposed breach of a restrictive covenant?
If you advise on obtaining a restrictive covenant insurance policy, ensure you do not breach s.19(1) FSMA>
