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LPC Law Notes Property Law and Practice Notes

Completion Notes

Updated Completion Notes

Property Law and Practice Notes

Property Law and Practice

Approximately 490 pages

A collection of the best LPC PLP notes the director of Oxbridge Notes (an Oxford law graduate) could find after combing through dozens of LPC samples from outstanding students with the highest results in England and carefully evaluating each on accuracy, formatting, logical structure, spelling/grammar, conciseness and "wow-factor".

In short these are what we believe to be the strongest set of PLP notes available in the UK this year. This collection of notes is fully updated for recent exams, a...

The following is a more accessible plain text extract of the PDF sample above, taken from our Property Law and Practice Notes. Due to the challenges of extracting text from PDFs, it will have odd formatting:

Completion

Pre-Completion Steps

The Buyer’s solicitor will draft the TR1 which will be agreed and signed by the seller. The Buyer’s solicitor will then submit the Completion Information & Undertakings Form to the seller’s solicitor which deals with issues such as keys, documents, the balance due and the release of mortgages. The seller’s solicitor will reply to this form within 4 working days (SCPC 6.3.1).

The buyer’s solicitor will ensure their client has obtained the finance to purchase the property and will send a draft certificate of title to the bank and confirm the bank will release the funds of the loan in time for completion. Meanwhile, the seller’s solicitor produces a completion statements and calculates the redemption figure which is required to discharge the mortgage.

Pre-Completion Searches

Two searches will be completed before completion will occur. The first is a Priority Search on an OS1. This will be completed to check there has been no changes to the official copies since the investigation of title. The search will be completed in the name of the lender.

There will also be a solvency search on the buyer completed. If the buyer is a company this will be done at Companies House; if the buyer is an individual this will be completed by a K16 Bankruptcy Search.

Completion

Procedure for...

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