Download PDF by Priscilla Sarton LL.M (auth.): Conveyancing

By Priscilla Sarton LL.M (auth.)

ISBN-10: 033359374X

ISBN-13: 9780333593745

ISBN-10: 1349132012

ISBN-13: 9781349132010

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Additional resources for Conveyancing

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Freehold or leasehold. If the estate is leasehold, the register will include brief details of the lease (the date, parties, the term and its starting date). The Proprietorship Register This gives the name and address of the registered proprietor. g. absolute, possessory, etc. You must realise that the class of title may change with a change of proprietor. 0 may be registered with an absolute title. Ir S enters into adverse possession against 0, S may eventually be registered as the new proprietor, but possibly only with possessory title.

So any failure by her to complete will involve her in severe financialloss, even if the seIler is in fact able to sell the house to someone else at the same, or even an increased, price. Of course, if the failure to complete is the seller's fault, Susan will be entitled to the return of the deposit. If Susan does not have enough money to pay a 10 per cent deposit on exchange of contracts, there are various solutions: (i) If she is selling her existing house to buy the new one, she will be receiving a deposit from her purchaser, and this may be used to finance the deposit which she has to pay to her seHer (see Chapter 5 for details on the drafting of the contract for sale).

G. for risk of subsidence. ) If the mortgage is an endowment mortgage, the ofTer will be conditional on the life policy being on foot before completion. Tbe proposal form for the assurance should be completed now and forwarded either to the lender or the assurance company, and confirmation that the proposal has been accepted by the company is needed be/ore eontraet. (e) Deposit A contract usually provides for a deposit of 10 per cent of the purchase price to be paid on exchange of contracts. Y our dient must realise that this may be forfeited to the seller if it is your client's fault that completion does not take place.

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Conveyancing by Priscilla Sarton LL.M (auth.)

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