Transfer of Freehold Land

Question 1

What are the 5 stages of the transfer of land?

Answer 1

1. ) Negotiations
2. ) Pre-contract
3. ) Exchange of contracts
4. ) Transfer of legal estate and completion
5. ) Registration

Question 2

1.) Negotiations

Answer 2

• Not legally binding yet, only once exchanged
• Gazumping: buyer and seller agree on price then before contracts are exchanged a new buyer offering more comes along
• Gazundering: Prior to exchange, buyer rings up and offers less so puts buyer in awkward position of accepting less or starting over

Question 3

2.) Pre-contract

Answer 3

• Does the vendor own the land?

- When buyer visits, not trying to discover actual occupation or overriding interests as thats the solicitors job

Question 4

Skyes v Taylor-Rose

Answer 4

Fatcs: -D did not disclose a brutal murder that had occured in the property before selling and when C tried to sell house, they did disclose it so C sued for misrep and damages as market value plummeted

Judgment: For D

L.P: - Held no duty to disclose
- Question on form was subjective

Question 5

3.) Exchange of contracts

Answer 5

s2 Law of Property (misc provs) Act 1989

• Contract for the sale of land must be in writing
• Must contain all the terms
• Contract must be signed by both parties

Question 6

4.) Transfer of legal estate and completion

Answer 6

-Must be by deed
Purchaser prepares:
Unregistered land - Conveyance and title deeds handed over
Registered land - Transfer

Question 7

5.) Registration

Answer 7

If unregistered, triggers first registration of title else purchase void