FLK plp

Question 1

If a property has an issue with class of title (qualified, posessory or leasehold) , what should you do?

Answer 1

Report and explain it to client

check mortgage lender requirements

advise indemnity title insurance

consider possibility of upgrading if docs can be located

Question 2

Co-ownership: what if Joint Tenants are selling the property?

Answer 2

if all living - all should sign contract and execute deed

if ones died - survivor signs and executes and provides death certificate

Question 3

Co-ownership: what if a surviving Tenant in common is selling the property?

Answer 3

appoint a second trustee to sign and execute with them

provide death certificate

overreaching (providing they pay purchase price in good faith)

Question 4

Covenant on a charges register meaning

Answer 4

the property has the burden of it (check current / proposed use would not breach it)

assume they are binding

Question 5

Positive covenants on a charges register meaning

Answer 5

not necessarily binding -

check if there is a chain of indemnity

Question 6

Buyers options for dealing with a covenant

Answer 6

Apply to upper tribunal to discharge it ( £££ and timely)

indemnity insurance (at sellers expense ideally) – do this before approaching PWB

consent from the person with the benefit - consent to the breach of it (hard to track down, may refuse and make things harder

Question 7

UNREGISTERED LAND - issues with co-ownership - how to determine if they are TIC or JT

Answer 7

JT
- The deed says so.

There’s no document saying they wanted to split the ownership.

The seller isn’t bankrupt.

TIC
- above aren’t met
- overreaching needed

if all alive = fine and all can sign

Question 8

Land Registry v Land Charges Register

Answer 8

Land Registry - REGISTERED LAND and register of ownership / title numbers

LCR - UNREGISTERED - property interests, done by name

Question 9

When will covenants bind unregistered land

Answer 9

restrictive - proetected by d(ii) land charge

positive - bind only if there is an indemnity

Question 10

When will an easement bind unregistered land

legal and equitable

Answer 10

legal - deed - see epitome of title

equitable - land d(iii) charges

Question 11

SDLT - England

Answer 11

-Return submitted within 14 days of completion
- SDLT5 certificate awarded

Question 12

LTT - Wales

Answer 12

submit return within 30 days of collection
Welsh Revenue authority
WRA certificate issued

Question 13

Post completion steps?

Answer 13

SDLT/ LTT
Register title (two month limit for unregistered)
charges register (21 days CH and LR 30 days)

Question 14

Completion process

Answer 14

purchase price paid

completion by post most common (Law soc completion by post)

SS informs BS when funds have arrives and dates the deed

SS undertakes to send the deed no later than end of working day

Question 15

Delayed completion: common law damages

Answer 15

breach of contract - the innocent party can claim for losses

not always practical / cost effective and any interest received would be deducted

Question 16

What is the function of the law society conveyancing protocol?

Answer 16

protects clients
makes conveyancing process more efficient
NOT for new build homes
optional for solicitors to adopt but if they are part of conveyancing quality scheme - they have to use it

must comply and act within the spirit of it

Question 17

When would the doctrine of notice apply?

Answer 17

Equitable interests and restrictive covenants pre 1926

equitable interests in a trust of land that have not been overreached

Question 18

When is a certificate of title typically issued?

Answer 18

After the exchange of contracts but before the completion date. (within a few weeks of)

Question 19

what does the doctrine of notice mean

Answer 19

if the successor was a bona fide purchase for value without notice (equitys darling)they would not be bound by an interest

buyers would need to make extensive investigations

Question 20

Doctrine of Notice - What are the types of notice

Answer 20

1) actual

2) Imputed - notice received by buyer’s agent

3) constructive - failure to pursue a line of enquiry which would have been reasonable to make - proper inspection of land

Question 21

Shares in the property for JT v TIC

Answer 21

TIC - share in property an be worked out based on contribution to the deposit

JT - always 50/50

Question 22

advice to co owners when choosing JT or TIC

Answer 22

They may have conflicting interests if one has kids eg

TIC: one needs to buy the other out if they die and appoint 2nt trustee etc - advise to save money

JT: can be safer if one wants to make sure they get the property

Question 23

restrictive covenants: equitable or legal?

Answer 23

equitable only: recognised proprietary interest

Question 24

lender power to possess a property requirements

Answer 24

• exist in a doc
  -arise- when money is due / redemption date (states in doc)
• exercisable- s103 (notice been served requiring payment and B defaults, interest un[aid for at leats 2 months, other breach (repair or insurance eg)

Question 25

Protection of equitable easements and restrictive covenants- reg and unreg

Answer 25

unreg: pre 1926 - everyone but equitys darling post: protect by land charge against name reg: entry of notice in charges register of burdened land (if not will only bind a donee)

Question 26

Protection of express legal easements

Answer 26

unreg: by deed = legal interests bind the world reg: deed and registration (except implied legal = overriding interest for both)

Question 27

How much can be recovered under a debt action?

Answer 27

6 years

Question 28

CRAR: what is needed?

Answer 28

- 7 day’s notice of intention to enter (with amount, and the chance to repay, contact of enforcement agent) - After 7 days, agent take control of goods (7 days’ notice needed if LL wants to sell the goods)

Question 29

where would new covenants go on a TR1

Answer 29

panel 11 includes new restrictive or positive covenant or an indemnity covenant they are giving the seller

Question 30

why dont existing covenants go on the TR1 ?

Answer 30

They would already exist in the charges register

Question 31

Panel 2 of Deed: Property what do you need if yoou are transferring a part title

Answer 31

title plan

Question 32

TP1 and TR5

Answer 32

TP1 - transfer of part TR5 - portfolio of titles

Question 33

transfer deed: what to remember if there is co-ownership - if one is deceased

Answer 33

1 left and survivorship - only put surviving JT TIC - surviving tenant and then a second trustee would be needed

Question 34

Panel 6: deed what address to use

Answer 34

- Company = best to use the registered office unless instructed (eg small company may want that new property to be that address) - Must be a postal address

Question 35

deed - consideration?

Answer 35

price paid - VAT? (you may need to put plus VAT if applicable) - Commercial less than 3 yrs old = VAT payable - Commercial older = VAT payable if opted for

Question 35

How might you draft an indemnity covenant?

Answer 35

The Transferee covenants with the Transferor to observe and perform the covenants contained or referred to in entry number [XX] in the Charges Register of title number [XXXXXXX] and to indemnify the Transferor against any liability for any future breach or non-observance thereof.”