PLP - time limits/rules Flashcards by Ellie Carter

Q

Types of structural survey for freehold properties

Freehold property

A

Full structural survey (extensive renovations req/listed)
Homebuyers report (reasonable condition <150yrs)
Basic (likely minimum for a mort.)

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Q

Is VAT applied to FH transactions and who pays it?

Freehold property

A

some commercial property (buyer pays)

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Q

Title documents a seller prepares

Title investigation (registered)

A

LR official copies of register + LR title plan + docs referred to

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Q

Content of property register

Title investigation (registered)

A

Describes property and rights benefitting

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Q

Content of proprietorship register

Title investigation (registered)

A

Name/address of owners, entries affecting ownership, class of title

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Q

Content of charges register

Title investigation (registered)

A

rights burdening the property

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Q

Classes of title

Title investigation (registered)

A

title absolute
qualified (specific defect)
Possessory
Good Leasehold title (only leasehold)
None

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Q

Root of title requirements

Title investigation (unregistered)

A

Adequately describe the land
Deals with legal + beneficial title
Casts no doubt on seller’s title
Dated more than 15 years ago (before compulsory reg)

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Q

What buyer’s solicitor should check on title investigation

Title investigation (unregistered)

A

Land not already reg + root of title meets reqs + chain of title and validly executed/stamped deeds

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Q

Deed requirements

Title investigation (unregistered)

A

Clear on the face it’s a deed + signed + delivered as deed

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Q

Where rights burdening unreg land are found

Title investigation (unregistered)

A

Land Charges Dep of LR

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Q

When restrictive covenants bind unregistered land

Title investigation (unregistered)

A

If the burden is registered as a D(ii) Land Charge

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Q

When will positive covenants bind unregistered land

Title investigation (unregistered)

A

Only if chain of indemnity covenants

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Q

Searches for every purchase

Pre-contract searches/enquiries

A

Local search (local authority CON29 + local land charges LLC1 + CON29O)
Drainage and water enquiries
Desktop environmental
Chancel repair liability
(Possibly index map)

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Q

Additional search for unregistered land

Pre-contract searches/enquiries

A

Central Land Charges Search

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Q

Additional searches for a company (seller)

Pre-contract searches/enquiries

A

Companies search

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Q

Additional search if property is not sold at market price or with a mortgage and always when buying from a individual

Pre-contract searches/enquiries

A

bankruptcy search (K16)

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Q

Optional searches

Pre-contract searches/enquiries

A

CON29O (including commons registration search)
Highways search
Coal mining search
Cheshire salt
Tin, clay and limestone
Phase I/Phase II survey
Flood search
Utility providers
Railways - overground, underground, crossrail or HS2
Waterways

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Q

Article 4 direction

planning permission and building requirements

A

Local council alters a GDPO

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Q

What confirms planning permission

planning permission and building requirements

A

Certificate of Lawfulness

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Q

Consequences of a breach of planning permission condition

Planning Permission

A

Planning contravention notice
Enforcement notice (restore land at own cost within 28 days)
Stop notice

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Q

Time limit to bring action for no planning permission building works breach

planning permission

A

4 years from substantial completion

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Q

Time limit to bring action for planning permission for change of use

planning permission

A

10 years (4 years for change to dwelling house)

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Q

Time limit to bring claim for breach of planning condition

Planning Permission

A

10 years from breach

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Time limit for enforcement notice of breach of building regulations | planning permission

12 months from completion – 28 days to fix (no limit for unsafe work) Prosecution brought within 2 years

Standard enquiries from buyer’s solicitor for commercial property | enquiries

Commercial Property Standard Enquiries CPSE

Standard enquiries from buyer’s solicitor for residential property | Enquiries

Law Society Conveyancing Protocol (not for new build homes)

Protocol forms used in residential property | Enquiries

TA6 – property info TA10 – fittings and contents

Industry standard certificate on title for commercial property | exchange

CLLS City of London Law Soc Certificate on Title

Standard sale contracts (residential) | Exchange

Standard Conditions of Sale (SCS) (obligatory if Law Soc Conveyancing Protocol)

Standard sale contracts (commercial) | Exchange

The Standard Commercial Property Conditions (SCPC)

Rank title guarantees | Exchange

Full title guarantee (default for SCS/SCPC) Limited title guarantee No title guarantee – no remedy

Time set for completion unless express | Exchange

20 working days from date of contract before 2pm

Standard deposit rate | Exchange

10%

VAT not included in purchase price | Exchange

Commercial property (20% on top)

Buyer’s solicitor preparations for completion | Completion

* Draft purchase deed (TR1 reg land, TP1 sale of part) * submit requisitions on title/TA13 inc undertaking that mortgage will be discharged * pre-completion searches * mortgage finance

Seller’s solicitor pre-completion steps | Completion

* Agree purchase deed (signed by seller) * reply to reqs on title/TA13 within 4 days * execute purchase deed (not dated yet) * redeem mortgage

Documents buyer’s solicitor sends to LR | Completion

* TR1 + fee + DS1 (discharge mortgage evidence) * new mortgage deed + MR01 (company is the buyer) * evidence of app of 2nd trustee (within OS1 priority period)

when do you have to register a charge by | Completion

21 days (mortgage deed MR01)

When do you have to register the buyer’s ownership at LR | Completion

End of priority period

when do you have to pay SDLT/(LTT for wales) | Completion

14 days from effective date (usually completion, can be occupation)

time is of the essence after a notice to complete | Completion

10 working days (SCS after completion date only; SCPC from the day of completion)

When completion deemed to take place after contractual time missed | completion

next working day

Priority period for OS1 and OS2 search | Completion

30 working days

Form and priority period for UR land | Completion

K15 and 15 working days

Form and priority period for bankruptcy search | Completion

K16 and 15 working days

Leases that must be registered on completion | Completion

Only more than 7 years (AP1)

Daily interest calculation for completion compensation | Completion

Daily interest x days from and including completion date

How long is the notice given by Local Authority for enforcement notice (PP) | PP and BR

28 days needed before a stop notice

Time limit for enforcement notice in building regulations + time to fix | PP and BR

one year after completion 28 days to fix

Time limit for enforcement after discovering breach of Bulding Regulation for Local Authority to prosecute | PP and BR

6 months

Time from initial construction can be prosecuted for BR | PP and BR

2 years

Time limit for injunction on unsafe work | PP and BR

No time limit

Formalities for leases | PP: Grant of lease

3 years or more – created by deed Under 3 years – writing/orally

Who does the Code for Leasing Business Premises apply to | Grant of lease

The Royal Institution of Chartered Surveyors (RICS) reg/members

Mandatory requirements for Code for Leasing Business Premises | Grant of lease

* Negotiations are constructive/collaborative, * unrep party advised of existence of code, * letting agent/LL responsible for heads of terms compliance

Enquiries raised by tenant’s solicitor pre-exchange | Grant of lease

CPSE1 CPSE3 + same as FH

Pre-completion searches/checks | grant of lease

OS1 (whole) OS2 (part) OS3 (not reg)

What form to register a lease over 7 years | Grant of lease

AP1 (registered)/FR1 (unregistered) (letter of consent needed if LL’s FH title charged)

Time for responding to application for consent for alterations | alterations

Reasonable time (28 days)

New tenant inform LL of underlet/assignment | Alienation

Within one month

Signed declarations for contracting out | Business Tenancies

Lease completed more than 14 days from warning notice

Statutory declarations for contracting out | Business Tenancies

Lease completed in less than 14 days; independent sol.

Time tenant has to apply for court order for new lease | Business Tenancies

14 days

Time after a court order for new lease/termination will existing tenancy end? | Business Tenancies

3 months and 21 days

Limitation period for debt action (unpaid rent) | Lease termination

6 years

Time tenant must counter notice to a s146 notice (intention to forfeit) | Lease termination

28 days