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LPC Law Notes Property Law and Practice Notes

Sale And Purchase Of Freehold Notes

Updated Sale And Purchase Of Freehold 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:

Seller Both Buyer

Take instructions:

  • Due diligence checks on client’s identity (and ensure that it is a company, etc.)

  • Check for money laundering

Take instructions:

  • Due diligence checks on client’s identity (and ensure that it is a company, etc.)

  • Check for money laundering

Prepare pre-contract package:

  • Draft contract

  • Evidence of seller’s legal title to the property

  • Pre-contract search results to forewarn them of any problems

  • Any consents for Planning Permission/Building Regs

Investigate title:

  • Analyse pre-contract package

  • Identify defected titel

  • Does seller have good title?

  • If also acting for Lender, prepare a report on title for them at this point. Is it worth the money advanced

Pre-contract searches:

  • Note: caveat emptor

  • This is very important

  • Check buyer’s finances: does he have enough, considering deposits, fees and SDLT?

Approve draft contract:

  • Return the contract to Ssol

  • State that you approve it

  • 2 final copies are prepared

  • Agreed method of exchange of contract is carried out

Exchange of contracts:

  • B signs one, S the other

  • Binding contract arises

  • B receives S’s copy, S receives B’s copy

  • Buyer pays 10% deposit

  • Before, anyone can leave

  • Note: telephone exchange may be agreed prior. If so, contract exists then

Requisitions with Seller:

  • Deals with mechanics of completion: when, where, how?

Prepare transfer deed:

  • Send to Ssol with any requisitions for approval

  • If acting for the buyer’s lender, request undertaking from seller to discharge existing mortgage

Approve transfer deed:

  • Do at same time as answering any requisitions

  • Engross transfer feed (i.e. prepare the final copy)

Pre-completion searches

  • Ensure no last minute problems

Prepare for...

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