SQE2 Flashcards
(31 cards)
What is a good negotiation option where leasehold issues?
What are advantages and disadvantages?
Surrender
:)
avoids court
preserves relationship
:(
puts tenant on notice to serve s26 request if not inclined to agree
When is court order required for forfeiture?
Wholly or partly let as a dwelling house and tenant is in occupation
When would u non obvs need to do a coal mining search?
Form?
Yorkshire / coal mining areas
Esp if plan to redevelop in case ground instable
CON29M
What search does older property require
(eg 1970s)
Structural survey to check structurally sound
Wording restrictive covenants in TR1/TP1?
The Transferee covenants with the Transferor to the intent that the burden of the covenants will run with and bind the Property and every part of it and that the benefit of the covenants will be annexed to and run with the Retained Land and every part of it, to observe and perform the following stipulations:
Quote for nuisance covenant
not do or allow to be done on the Property anything which may be or grow to be a nuisance or annoyance to the Transferor or its successors in title who are the owners for the time being of the [Retained Land.]
What to include as declaration in TP1/TR1 to prevent implied easements arising?
“This transfer does not include any easement other than those expressly granted in this transfer and shall not be construed or operate as implying the grant of any easement.”
Seller and buyer, purchaser and vendor or transferor or transferee for:
- TR1
- TP1
- Contract?
Contract = seller and buyer
TR1/TP1 = transferor and transferee
(not sure when to use purchaser/vendor but assume contract)
What should u be concerned about in searches if plan to build on property (eg an extension)?
Any public water pipes or public sewers within boundaries of the property as can’t build over them
Do u need to obtain death certificate if overreaching applies anyway?
yes
What should u consider if buying a property and getting indemnity insurance
May have indemnity insurance cover which could be assigned for us.
if not, sellers should pay for a policy to cover the buyers as it is a defect in title.
e.g. where unknwon covenant
explain chattels to client
personal belongings
explain restrict covenant to client
promises by you to [your neighbour james] not to [xyz]
if you breach these covenants, could apply to court for compensation or orders stopping you from [xyz] and making you undo [xyz].
Explain option of applying to Upper Tribunal
apply to court to the Upper Tribunal for them to modify the covenants or release you from the covenants on the grounds that they are obsolete or of no substantial benefit.
[Given these are recent covenants that might be hard to prove]
might take some time to obtain a decision so this is probably not a very practical option
explaining GDPO (the permitted development stuff or whatever its called)
Some changes are granted planning permission automatically by the local planning authority, so you would need to check this.
Are you happy to make that enquiry yourself?
Does contract race apply outside of freehold transactions?
Yes
Inc to assignment/underlease
Who enters rent deposit deed?
Lease should say who
tenant or prospective tenant (inc assignee)
(if assignment, v highly likely prospective tenant)
why can’t u act for seller and buyer
NO - CONFLICT OF INTEREST (or signif risk)
○ Especially if unequal bargaining power or negotiating price Substantially common interest exception does not apply to a property purchase
When will death certificate not be required even though one of the owners has died?
Good practice i would say u need it anyway
Registered land
Presume that the equitable interest is held as joint tenants unless restriction in Proprietorship register
“No disposition by a sole propeitor etc”
What is difference between full and limited title guarantee?
Implied covenants:
FULL
Land disposed free from incumbrances other than those which seller did not or could not reasonably know about
^ excludes
- matters stated in disposition
- buyer knows about at time of disposition
- on registers at time of disposal
LIMITED ONLY:
That not incumbered property and not aware anyone else has since last disposition for value
(i.e. not created since they acquired the property)
nb: both impliedly covenant 3 of the same things - sep card
Why should seller never be advised to make PP inclusive of VAT?
(comm prop)
Because then they wouldn’t be able to recover any VAT owed to HMRC
(but u would advise buyer to)
explain covenants to lay client
legally enforceable promises
(may add, to protect your property)
If enforcing restrictive covenant, who can it be against if there is a new owner?
Considerations?
Original party or new owner
As I understand that you are still friends with the __, you might prefer me to write to the __ first and see if they comply.
How long does AGA last?
AGA ONLY LASTS AS LONG AS ASSIGNEE OWNS LEASE
When assignee assigns, original tenant released
