PROPERTY LAW AND PRACTICE

Cover......Page 1
978 1 907624 00 1 Property Law and Practice......Page 2
Preface......Page 6
Acknowledgements......Page 7
Part I ESSENTIAL BACKGROUND: OUTLINE OF A CONVEYANCING TRANSACTION, UNDERLYING LAW, PROFESSIONAL CONDUCT AND TAXATION 1......Page 8
Part II THE CONVEYANCING TRANSACTION: INITIAL STAGES 79......Page 9
Part III THE CONVEYANCING TRANSACTION: PROCEDURE LEADING TO EXCHANGE 115......Page 10
Part IV THE CONVEYANCING TRANSACTION: AFTER EXCHANGE 237......Page 12
Part VI DELAY AND REMEDIES 289......Page 13
Part VII LEASEHOLDS 307......Page 14
Appendices 417......Page 15
G......Page 18
S......Page 19
W......Page 20
Table of Statutes......Page 22
Table of Statutory Instruments, Codes, Rules, Conditions and Guidance......Page 26
Glossary of Terms......Page 30
Table of Abbreviations......Page 38
Part I ESSENTIAL BACKGROUND: OUTLINE OF A CONVEYANCING TRANSACTION, UNDERLYING LAW, PROFESSIONAL CONDUCT AND TAXATION......Page 40
Approach taken by this book......Page 42
Registered and unregistered land......Page 43
The systems exist in parallel......Page 44
E-conveyancing......Page 45
The Carbon Reduction Commitment Energy Efficiency Scheme......Page 46
Stop press – Home Information Packs......Page 47
Marketing the property......Page 48
Title......Page 49
Exchange of contracts......Page 50
The buyer’s lender......Page 51
Final checks......Page 52
The seller’s solicitor......Page 53
The National Protocol......Page 54
Equitable interests......Page 56
Protecting third-party interests......Page 57
Implied grant or reservation......Page 58
Covenants affecting freehold land......Page 59
Indirect enforcement of covenants......Page 60
Trusts of land......Page 61
Tenancy in common......Page 62
Joint tenants......Page 63
‘Home rights’ for ‘non-owning’ spouses or civil partners......Page 64
General......Page 65
Undue influence......Page 66
Adverse possession......Page 67
Further reading......Page 68
Interests governed by the Land Charges Act 1972......Page 70
What title may be registered......Page 71
Conveyancing implications......Page 72
Classes of title......Page 73
Good leasehold title......Page 74
The property register......Page 75
Third-party rights in registered land......Page 76
Unregistered interests which will override a registered disposition......Page 77
Ensuring that unregistered interests are registered......Page 78
Notices......Page 79
Further reading......Page 80
Example of a registered title......Page 81
Exception in r 3.08 where the transaction is not at arm’s length......Page 84
Practical problems......Page 85
Residential transactions......Page 86
Acting for joint borrowers – undue influence......Page 87
Confidentiality......Page 88
Disclosure of race to buyers......Page 89
Bridging finance for the deposit......Page 90
Giving an estimate......Page 91
Dealing with non-solicitors......Page 92
Money laundering......Page 93
Mortgage fraud......Page 94
Qualifying conditions......Page 96
Part business user......Page 97
Introduction......Page 98
VAT and commercial property......Page 99
Seller and buyer......Page 100
Residential freehold property......Page 101
Leasehold property and SDLT......Page 102
Legislation......Page 104
Matters which do not constitute ‘development’......Page 105
Matters which do not require express planning permission......Page 106
Full or outline?......Page 107
Planning obligations......Page 108
Listed buildings and conservation areas......Page 109
Non-compliance......Page 110
Acting for the seller......Page 111
The Contaminated Land Regime under the EPA 1990......Page 112
Searches and enquiries and other investigations......Page 113
Part II THE CONVEYANCING TRANSACTION: INITIAL STAGES......Page 118
The contents of the HIP......Page 120
Authorised HIP documents......Page 121
Energy Performance Certificates......Page 122
Indirect instructions......Page 123
Using checklists......Page 124
Tenure......Page 125
The present use of the property......Page 126
Outstanding mortgages......Page 127
Use of the property......Page 128
Survey......Page 129
Specimen instructions......Page 130
Financial Services and Markets Act 2000......Page 134
The client’s employer......Page 135
Amount of the loan......Page 136
The interest rate (residential mortgages)......Page 137
Further reading......Page 138
Sole ownership......Page 140
Tenancy in common......Page 141
Need for certainty in contract......Page 142
Fittings and contents form......Page 143
Valuation......Page 144
Surveys in special cases......Page 145
Surveyor’s liability......Page 146
‘Subject to contract’......Page 148
Obtain title deeds and documents......Page 149
Investigation of title......Page 150
Preparation of the pre-contract package......Page 151
Home Information Pack (HIP)......Page 152
Part III THE CONVEYANCING TRANSACTION: PROCEDURE LEADING TO EXCHANGE......Page 154
Format......Page 156
The dangers of accepting a ‘short root’......Page 157
Production of original documents......Page 158
Leaseholds......Page 159
Seller’s investigation of title......Page 160
Investigating title in registered land......Page 161
Overriding interests......Page 162
Method of investigation of an unregistered title......Page 163
Stamp duties......Page 164
Incumbrances......Page 165
Searches......Page 166
Unregistered land......Page 168
Registered land......Page 169
Naming the beneficiary......Page 170
Joint tenants......Page 171
Existence of the power of sale......Page 172
Other mortgages......Page 173
Registered land......Page 174
Enduring and lasting powers......Page 175
Transactions at an undervalue......Page 176
Registered land......Page 177
Execution of deeds by an individual......Page 178
Execution by a company......Page 179
Verification of title......Page 180
Worked example of investigation of a registered title – 10 Bladen Road, Overton, Cornshire......Page 181
The official copies......Page 182
Commentary......Page 184
The epitome of title......Page 185
Commentary on investigation of title......Page 191
Specific points on the worked example......Page 192
Who should make the searches and enquiries?......Page 194
All transactions......Page 195
What the search reveals......Page 196
What the searches reveal......Page 197
Home Information Packs......Page 199
Commercial property......Page 200
Liability......Page 201
Unregistered land......Page 202
Index Map search......Page 203
Chancel repair searches......Page 204
Commons registration search......Page 205
Results of searches......Page 206
Occupiers......Page 207
Conclusion......Page 208
Introduction and context......Page 210
Personal representatives......Page 211
Persons suffering from mental disability......Page 212
Commercial transactions......Page 213
Referring to the contract plan......Page 214
The conditions of sale – standard and special conditions......Page 215
Entries made before the date of the contract in any public register except Land Registry or Land Charges Registry or kept at Companies House......Page 216
Dealing with disclosure in the contract......Page 217
Proving title by adverse possession......Page 218
Details of the implied covenants......Page 219
Which title guarantee?......Page 220
Date and time for completion......Page 221
Deposit......Page 222
Improperly stamped documents......Page 223
Unfair contract terms......Page 224
Contract drafting: worked examples......Page 225
Standard Conditions of Sale: front page......Page 226
Standard Conditions of Sale: rear page......Page 227
Standard Commercial Property Conditions: front page......Page 228
Standard Commercial Property Conditions: rear page......Page 229
Worked example of the contract......Page 230
Price......Page 232
Worked example of a word-processed contract......Page 233
Certainty......Page 238
Drafting......Page 239
Formalities......Page 240
Protection of the option......Page 241
How to amend the contract......Page 242
Restrictive covenants......Page 243
Obtaining the consent of the person with the benefit of the covenant......Page 244
Suggested form of wording for release of rights......Page 245
Terms of offer......Page 246
Instructions to act......Page 247
Reporting to the lender......Page 248
The mortgage documentation......Page 249
Protecting the security......Page 251
Amount of deposit......Page 252
Bridging finance......Page 253
Capacity implied by law......Page 254
Methods of payment of deposit......Page 255
The Solicitors’ Accounts Rules 1998......Page 256
Buyer’s lien......Page 257
Property at seller’s risk......Page 258
Maintenance of seller’s policy......Page 259
Other types of insurance......Page 260
Deposit......Page 262
Signature by the client......Page 263
Client’s authority......Page 264
Methods of exchange......Page 266
Formula A......Page 267
Formula C......Page 268
Fax......Page 269
Insurance......Page 270
Part IV THE CONVEYANCING TRANSACTION: AFTER EXCHANGE......Page 276
The buyer......Page 278
Death of one co-seller......Page 279
Appointment of liquidator......Page 280
Standard Conditions of Sale......Page 281
The interval between exchange and completion......Page 282
Standard form requisitions......Page 284
Further queries......Page 285
Registered land......Page 286
Execution......Page 287
Explaining the document to the client......Page 288
Date......Page 289
Additional provisions......Page 290
Conveyance......Page 291
Specimen modern form: conveyance......Page 292
Land Registry search......Page 296
Form of the register......Page 297
Description of the land......Page 298
Bankruptcy search......Page 299
Enduring and lasting powers of attorney......Page 300
Results of searches......Page 301
Unregistered land......Page 302
Comparison of Land Registry and Land Charges Department searches......Page 303
Seller’s checklist......Page 304
The seller......Page 305
Completion statement......Page 306
Money......Page 307
Completion checklist......Page 308
Part V THE CONVEYANCING TRANSACTION: COMPLETION AND POST-COMPLETION......Page 310
Effect of completion......Page 312
Time of completion......Page 313
Method of payment......Page 314
Method of completion......Page 315
Title documents......Page 316
Discharge of seller’s mortgage......Page 317
The Law Society’s Code for Completion by Post......Page 318
Lender’s requirements......Page 319
Deal with the proceeds of sale......Page 320
Acting for the buyer......Page 321
Register company charges......Page 322
The lender’s solicitor......Page 323
Registration of dealings......Page 324
Transfer of whole......Page 325
Identity requirements......Page 326
Part VI DELAY AND REMEDIES......Page 328
Related transactions......Page 330
Calculating compensation......Page 331
Service of a notice to complete......Page 332
Standard Commercial Property Conditions......Page 333
Limitation periods......Page 334
Quantum......Page 335
Rescission......Page 336
Claims under the Misrepresentation Act 1967......Page 337
Imputed knowledge......Page 338
General bars to the award......Page 339
Enforcement of the covenants......Page 340
Part VII LEASEHOLDS......Page 346
Advantages......Page 348
Short-term residential lettings......Page 349
The commercial property market......Page 350
Key terminology – grant, assignment and sub-letting......Page 351
Types of leases......Page 352
Equitable leases......Page 353
Liability of tenants......Page 354
Default notices – liability of former tenants......Page 355
Notice to quit......Page 356
For breach of other covenants......Page 357
Damages......Page 358
Commonhold......Page 359
Taking instructions from the landlord......Page 360
Leases......Page 361
Home Information Packs......Page 362
The draft contract and draft lease......Page 363
Engrossment and execution of the lease......Page 364
Registrable leases......Page 365
The landlord......Page 366
Introduction......Page 368
Home Information Packs......Page 369
General......Page 370
Types of covenant – qualified covenants......Page 371
Standard Conditions of Sale......Page 372
Unregistered lease......Page 373
Indemnity......Page 374
Documents to be handed over by the seller......Page 375
Unregistered lease......Page 376
Example Notice of Assignment......Page 377
Why are precedent leases so long?......Page 378
Land Registry prescribed clauses leases......Page 379
Commencement......Page 382
Certainty......Page 383
Use of toilets, etc......Page 384
Rent and rent review – commercial leases......Page 385
Index-linked clauses......Page 386
Open market revaluations......Page 387
The hypothetical letting......Page 388
The market......Page 389
The consideration......Page 390
Possession......Page 391
The terms......Page 392
Covenants performed......Page 394
Occupation......Page 395
The mechanics of the commercial rent review......Page 396
The interrelation of the review clause with other clauses in the lease......Page 397
Trigger notices......Page 398
The late review......Page 399
Alterations and improvements......Page 400
General......Page 401
Application of policy monies......Page 402
Commercial leases......Page 403
A qualified prohibition......Page 404
Sub-lettings......Page 405
The tenant’s concerns......Page 406
Operative words......Page 407
For the tenant......Page 408
Concurrent lease......Page 409
General principle......Page 410
Methods of apportioning the cost......Page 411
Purpose and effect......Page 412
Who is to prepare the certificate?......Page 413
Why the need?......Page 414
Forfeiture clause......Page 415
Unfair Terms in Consumer Contracts Regulations 1999......Page 416
There must be a ‘tenancy’......Page 418
Fixed-term tenancies not exceeding six months......Page 419
Termination under the Act......Page 420
The prescribed form......Page 421
The section 26 request......Page 422
The landlord’s grounds for opposition under section 30......Page 423
Other terms......Page 424
Contracting out......Page 425
Why is the law so complicated?......Page 426
Is it a long lease?......Page 427
Enfranchisement, the right to buy the freehold......Page 428
Management audit......Page 429
Rent control......Page 430
Rent control......Page 431
Landlord and Tenant Act 1985 – repairs......Page 432
Part VIII SALES OF PART AND NEW PROPERTIES......Page 438
Grants and reservations of easements......Page 440
Imposition of new covenants......Page 442
Description of land to be sold......Page 443
Registered land......Page 444
Building regulations consent......Page 446
Residential properties......Page 447
Estate roads......Page 448
Description of the property......Page 449
Contract......Page 450
Home Information Packs, Energy Performance Certificates and Sustainability Certificates (residential properties)......Page 451
Completion date......Page 452
Appendices......Page 456
Preparing the package: assembling the information......Page 458
Preparing the package: the draft documents......Page 459
Buyer’s offer accepted......Page 460
The first step......Page 461
Prior to exchange of contracts......Page 462
Exchange of contracts......Page 463
Between exchange and the day of completion......Page 464
Completion: the day of payment and removals......Page 465
Standard Conditions of Sale (Fourth Edition)......Page 468
Standard Commercial Property Conditions (Second Edition)......Page 480
Law Society telephone/telex exchange – formula A (1986)......Page 496
Law Society telephone/fax/telex exchange – formula C (1989)......Page 497
Procedure......Page 500
Form of Undertaking to Discharge Building Society Mortgages Approved by The Law Society in Conveyancing Matters......Page 504
Contents......Page 506
Index......Page 530