LPC Law Notes Property Law and Practice Notes
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:
Draft purchase deed – it must be a deed (s.52 LPA) in order to transfer the legal estate.
In registered land this is a TR1 form.
Submit requisitions on title – these are queries on the title sent to the seller’s solicitor.
A series of standard questions which obtain practical information about the completion arrangements (e.g. keys, which bank account to put money into, any new information, confirmation of mortgage discharge upon completion).
SCS 4.3.1/SCPC 6.3.1 – the seller’s solicitor must reply in 4 working days.
Pre-Completion Searches – these essentially ask whether there have been any changes to the title. They have the effect of freezing the title for 30days.
Registered Land:
Do a Form OS1 search at the Land Registry to see if any further entries have been made since the date the official copies were supplied (the ‘search from date’). NOTE: if the buyer is taking out a mortgage, the application is in the NAME OF THE LENDER.
Sending this form gives a 30 day priority period from the date of the search result. This means the buyer will take priority over any entries placed on the register during the period, provided the buyer applies to register the purchase within the period.
Do a bankruptcy search: if an individual use Form K16. If the seller is a company, do a companies house search against it to confirm it exists. The OS1 search will catch out any bankruptcy issues.
Unregistered Land: send Form K15 to the Central Land Charges Department to enquire against the seller and all previous known owners of the land. This gives a protection period of 15 working days in which to complete.
Draft purchase deed – form TR1
Finance – CHECK THEY ARE IN PLACE
Completion Statement – buyer’s solicitor receives from seller’s solicitor showing the amount the seller requires to complete.
Financial Statement – send to buyer showing the total sum due (inc. your fees) in order to complete.
Completion
Personal attendance
By post or by telephone – means completion on the phone with original documents to follow by post
Ensure purchase deed executed by the buyer
Ensure requisitions answered satisfactorily
Check title documents upon receipt
Pay completion monies
Get an undertaking from seller’s solicitor that the mortgage has been redeemed (this is usually via simple confirmation from the lender or a DS1 form).
Post-Completion
Companies House | Applicable where the buyer is a company:
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HMRC | Applicable for all freehold transactions:
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Land Registry Application |
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Also lodge at LR |
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One mortgagee – the LR will remove the mortgage on the registration of the purchase without the need for any documentary evidence.
More than one mortgagee – it may be necessary to provide evidence to the LR that another mortgage has been repaid. If there is another mortgage registered before that of the selling mortgagee, the proceeds of sale must be used as laid out below in accordance with s.105 LPA:
To pay off the first registered mortgage
Pay any costs incurred in carrying out the sale
Pay off the selling mortgagee’s mortgage
Residue goes to seller
In such cases, the selling mortgagee needs to provide evidence that it has paid off the mortgage which had priority.
Remedies
This occurs where completion doesn't take place on the completion date set out in the contract but does eventually take place.
If there is no completion date on the contract SCS 6.1.1 specifies that the matter will be completed 20days after...
Buy the full version of these notes or essay plans and more in our Property Law and Practice Notes.
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...
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