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LPC Law Notes Property Law and Practice Notes

Leaseholds Procedure Notes

Updated Leaseholds Procedure 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:

GRANT & ASSIGNMENT OF LEASEHOLDS

Grant:

creation of brand new estate in the land

Assignment:

transfer of the remainder of the term of an existing leasehold estate in the land

Pre-Contract
  • Draft lease instead of Contract

  • Go straight to completion once draft lease has been agreed

  • Use existing lease

  • Seller cannot vary terms of lease/sublease

  • Need landlord to agree to variation of the existing lease

  • If L agrees to variation, changes need to be effected by deed of variation

  • T will have to pay for changes

Searches & Enquiries:

  • Investigation of title [Official Copies]

    • L’s freehold title

    • Superior leasehold title (if applicable)

  • Sellers Leasehold Information Form (SLIF) or Commercial Leasehold Enquiries

  • Key questions:

    • Compliance with covenants?

    • Relationship with L?

    • Is L’s consent required for assignment?

Searches & Enquiries:

  • Investigation of title [Official Copies]

    • L’s freehold title

    • Superior leasehold title

  • Sellers Leasehold Information Form (SLIF) or Commercial Leasehold Enquiries

  • Key questions:

    • Compliance with covenants?

    • Relationship with L?

    • Is L’s consent required for assignment?

Engross lease and counterpart

L executes lease, T executes counterpart

  • There is no TR1

  • Pre-completion searches (also check freehold/superior title):

    • OS1

    • Company search

  1. Does L have capacity to grant lease?

  2. Any burdens on title that might bind T?

  3. Any mortgage of freehold?

  • If L’s title not deduced pre-exchange; completion will be delayed until the Title docs produced (SCPC 11.2.4)

  • Transfer deed (TR1 or deed of assignment)

  • Pre-completion searches (also check freehold/superior title):

    • OS1

    • Company search

  1. Does L have capacity to grant lease?

  2. Any burdens on title that might bind T?

  3. Any mortgage of freehold?

  • If L’s title not deduced pre-exchange; completion will be delayed until the Title docs produced (SCPC 11.2.4)

Completion

Documents from Landlord:

  • Lease executed by L

  • Certified copy of consent from L’s lender to grant of the lease

Documents from Seller:

  • Lease/sublease

  • Transfer deed...

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