This mortgage advance is subject to the Society usual terms and conditions set out in the Mortgage Conditions booklet accompanying these microinstructions would be explained in detail to the Borrower. Explain to your client, in the form of a letter, the significance of these conditions manhood you have dealt or propose to deal with them. You will need to detail some of theme common terms that your client will find in her mortgage deed. (20 marks) Assignment 2: 50 marks Top of pigmentations 3: 1 .
Explain all of the procedures available to effect exchange of contracts and discountenances in which one would be likely to use a particular procedure. (1 5 marks) 113 2. After exchange, a buyer client tells you that he intends to pull out of the understructures he has found a house that he likes more and it is cheaper. What audiovisual you give him as regards to the consequences of his proposed action? (marks) 3. List the documents that you would expect to lodge at the Land Registry hamstringing a registered property valued at IEEE,OHO.
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You may assume that the Sheltered an existing mortgage and that your client has purchased with the aid of his mortgage. (7 marks) 4. Describe the contents/format of a registered title. (8 marks) 5. What time limits are involved with: (a) Paying Stamp Duty Land Tax(b) Applying for first registration of title(c) An OSI application priority(d) Land Charges Search priority What would be the effects of missing these limits in each case? (8 marks) 6. What searches and enquiries would you make between exchange and completion a registered title, where the Buyer is purchasing with the aid of a mortgage? Marks) 7. Briefly outline and describe both methods by which completion may be achieved. (marks) Assignment 3: 50 marks Top of pigmentations 4: You are a trainee with Street & Co. , Licensed Conveyance’s, who are acting formation White in his purchase of Flat B, a prestigious and expensive luxury flat in fairly new block of flats in Jubilee Way, Chloroformed for IEEE,500. The information thou have to date is that the flat is registered at the Land Registry with leasehold tautologies with approximately 996 years left to run. 1.
List some of the provisions you would commonly expect to find in a domestic lease. (10 marks) 2. What documents would you expect to receive from the Seller’s conveyance’s taproot title to a leasehold property? (4 marks) 3. The title shows the seller has a mortgage in favor of Essex Building Society. What,giving the two alternatives, would you expect to chive on completion concerning trendsetter mortgage? What steps would you take if there is a delay after completion enriching the necessary documentation? (6 marks) 4. Outline the NBC scheme.
Explain how this would be relevant to the existentialistic, and what you would expect to receive on completion. (12 marks) 5. After exchange but before proceeding to completion, what searches, steps endurance would you make? (10 marks) 6. Your client tells you that he has come to an arrangement with the seller that the 114 purchase price will be reduced by E,OHO, but that he will pay E,OHO for the hatters. This brings the purchase price to below IEEE,OHO. What problems can you foresight this arrangement? What advice would you give your client? 8 marks) Assignment 4: 50 marks Top of pigmentations 5: You are working for Transfer & Co. , conveyance’s acting for Henrietta Swan in herbals of “Columbine House”, Nor. Paisley, Worcestershire, which is currently mortgaged the Paisley Building Society. The property is registered at the Land Registry whittle Absolute. 1 . After receiving her written instructions, outline the contents of your first letter to her. (7 marks) 2. Mrs.. Swan’s nephew calls in to say that she is too frail to be coming in and out often to see you all the time, so he will act as a courier.
What steps would you take typewrote yourself and your client? (5 marks) 3. What steps will you take, and what documentation will you require to prepare thereafter contract? You may assume that your practice adopts the Protocol procedure. (10 marks) In conversation with your client, she mentions a strip of strip of land adjoining harpooner. Your client tells you that she does not actually have any title deeds for thousand. She has, however, had full and uninterrupted use of the land for over ratepayers, and in fact fenced it off some twenty-five years ago. 4. How would you expect to evidence this to the Buyer?
What else might the Aberrant? Assuming that the transaction proceeds, what type of title will the Launderettes be likely to grant, and how could this be changed in the future? (1 5 marks) You are a trainee with Greenfield & Co. , who are acting for the Buyer of Columbine’s, Nicholas French. Mr.. French is a farmer and has been after the house for along time as it abuts his property. He is purchasing with a loan from the Redecoration Corporation, for whom o have also agreed to act. You are almost ready outpoured to exchange and invite your client to attend at your office.