SQE flk2 Flashcards
When can trustees remove a trustee living outside of the UK?
If they have been living outside the UK for more than 12 months. Must be in writing and must have a replacement trustee in place if under 18?
Accessorial liability in trusts?
A breach of trust, which the defendant assisted, the defendant acting dishonestly (the test for dishonesty being subjective
How long can a trustee delegate duties?
Up to 12 months must be in written notice.
TA 13 form? What does it contain?
Details of whereabouts the keys are for the property. An undertaking given by the sellers solicitors to redeem the mortgage with the bank and confirm the exact amount required to complete the purchase
What form is used Reveal the adoption and maintenance of roads?
Enquiries of the local authority, CON 29
Voluntary intoxication and basic intent?
Not available as a defence
What does a coal mining search reveal?
The search will confirm if the property is in a area where mining has taken place in the past, or is likely to take place in the future. Whether there are shafts on the property and the existence of underground workings, which may cause problems with subsidence.
What is a K 16 used for?
Bankruptcy search for individual borrower. There is no priority period.
Formalities for signing the counterpart lease?
Must be done in the presence of an independent witness
What will a local land charges LLC1 reveal.
Discloses, financial changes or restrictions on land that has been imposed by public authorities under statute.
Formula C?
Formula C is typically used for chains of related transactions. Each solicitor holds their own client’s signed parts of the contract and agrees to release the contracts for exchange for a specific period.
Formula B?
Formula B is used where each solicitor holds their own client’s part of the contract.
Following the telephone call effecting exchange, each solicitor dates their part of the contract, inserts the agreed completion date and sends their client’s signed part of the contract to the other.
Formula A?
Formula A is used where one solicitor holds both parts of the contract, signed by the buyer and seller.
Following the telephone call effecting exchange, the solicitor holding both documents dates both parts of the contract, inserts the completion date (if not already inserted) and sends the part signed by their own client to the other solicitor.
What is a K 15. Search used for?
Bankruptcy search against individuals.
What is the k15 priority period?
15 working days
How does the SCPC deal with VAT on old commercial freehold property?
The transaction is exempt from VAT subject to the sellers option to tax
What search would you use to find out about rights on common land?
Optional enquiries of local authority, CON29O
What is the estate rate formula that is applicable to the total IHT bill on the non property instalment element?
After calculating and deducting all reliefs. The value of non-property assets minus the total inheritance tax after being calculated.
How long is the OS1R priority period?
30 day working day ending at 12 noon. Will take free of any entry’s placed on the register at that time.
when is SDLT and VAT charged on a lease?
VAT is charged when the landlord has opted to tax will be 20%.
SLDT is paid on premium leases over £150,000 and will be 2% tax (will not include VAT element)
When can a forfeiture clause be used without waiting for court approval or 28 days to pass
On late payment of rent
How can a landlord contract out of the landlord and tenant act 1954 in a 18 month lease?
The client should give notice to the occupier warning then the lease is to be contracted out of the 1954 act. Then the occupier should make a declaration that he has received a notice and agrees and the lease for 18 months should be granted at least 14 days after the occupier received the notice.
What is ground F available to landlords to remove a tenant?
The landlord wants to occupy the property for its own business, or use, havi owned it for five years
What is form PA1A used for?
Grant of probate if there’s not a will
What is form PA1P
Apply for probate by post if there is will
The role of a legal advisor?
To remind the magistrates of the evidence given in the courtroom.
What are the turnbull guidelines?
The witness picks out the defendant, informally. The witness identified that the defendant had a formal procedure. All the witness claim to recognise the defendant as someone previously known to him.
How can a tenant leave a lease that has security of the landlord and tenant act 1954, after the contract is finished?
The tenant should serve three months written under S 27.
What is a index map search used for?
To see if land is already registered or registration is pending order is a caution against first registration. Particularly used where there appears to be unregistered land where there is a mines and minerals reservation in the title. Form SIM is used.