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Freehold Registered Land Notes

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Freehold Registered Land Revision

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Core Module: PLP

Freehold Registered Land

1. Pre-exchange Taking Instructions

1. Obtain documentary proof of client's identity


Does the individual have authority to act for the client company?

2. Address professional conduct issues [see chart]


Checks for ID - to avoid money laundering and mortgage fraud. Make checks keep records.


Acting for buyer and lender / seller and buyer etc - conflicts of interest

3. Next steps:

SELLER


(a) (b) (c) (d)

BUYER

Obtain title deeds from seller and deduce title. Registered land - get official copies OC1 [SCPC 6.1.2]. Must be less than 6 months old. Seller pays. Ascertain mortgage redemption figure if there is a mortgage Prepare pre-contract package and send to buyer's solicitor for approval: The draft contract - showing what land the seller is selling and on what terms he is prepared to sell it Evidence of Seller's legal title of property
- to prove he owns it Results of pre-contract searches which the seller has made and other info about the property Info on planning permission [if relevant]

♥Surveys [Caveat emptor]

1. Valuation by lender

2. 'Home buyer's valuation and survey report

3. Full structural survey: detailed commentary of structure and condition of the property. Advise according to:


Cost of survey; AND


How old is property? [e.g. over 100 years?]


Is it high value?


Is mortgage low in proportion to overall costs?


Is it a conventional property or unique in some way?


Is it a commercial transaction?


Does buyer intend to alter / extend property?


Is property attached to another property?
♥Arrange finance (is there a mortgagee; what is offer?)

Obtain terms of estate agent
♥Proposed use of property

Fees - client care letter issues

Other:


1

Obtain estate agent particulars

Core Module: PLP

Contact details of buyer's solicitor Preliminary deposits?

4. After initial meeting


Client care letter & letter to client confirming instructions


Contact all other parties involved in transaction - seller solicitor, estate agents, le for your client - head correspondence with "SUBJECT TO CONTRACT"


Obtain estate agent's particulars to put on file


Attendance note

Pre-exchange searches& enquiries [BUYER]

Caveat emptor = buyer beware Seller has limited duty to disclose certain matters Searches / enquiries to ensure that the transaction is transparent and buyer knows as muc as possible about what he is buying.

1. Local Land Charges Search + fee [LLC1]


Local authority will keep a Local Land Charges Register [open to public inspection


Send to correct Council in which property is situated


Send duplicates if posting [attach plan if necessary].


Receive certificate and advise accordingly


Search reveals any entries kept by council [e.g. Tree preservation order etc]

2. Local Authority Enquiries (specific / practical questions) a) CON 29R (Regular) - enquiries relevant to every transaction b) CON 29O (Optional) - more specialized enquiries [only some will be relevant]


Post in duplicated (plan attached if necessary)


Send to appropriate council where property is situated.

Possible issues that may arise in LLC1 and CON29R/O Tree Preservation Order

Obtain more information from local authority Inspect documents - how many trees? What are the specifics Inspect the land itself - where is tree situated? Will it effect buyer's plans for the property?
S.201 Town and Planning Act 1990 - order takes effect immediately: If it appears to a local planning authority that a tree preservation order proposed to be made by that authority should take effect immediately without previous confirmation, they may include in the order as made by them a direction that this section shall apply to the order.

Is property on a conservation area?

2

Conservation area means the character of the area will be preserved. Planning permission will be harder to obtain. More limitations on use of the land. Planning permission issues?

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