House Buying, Selling and Conveyancing by Joseph Bradshaw

Author:Joseph Bradshaw
Language: eng
Format: epub
Publisher: Lawpack Publishing Limited
Published: 2010-09-15T00:00:00+00:00

CHAPTER 12

Conveyancing: the sale and purchase of a registered house

The previous chapter on selling a registered house confined itself to the work a vendor of such a house is faced with. The reason for limiting its scope was so that you could judge for yourself the simplicity of the operation. Aanyone who is good at making a précis will have already noted that a very simple transaction indeed could be carried out, and it goes like this:

A purchaser goes to a house that is for sale and says, ‘I will give you £175,000 for it if you can prove to me that you are the owner.’ The vendor says, ‘Come back in a couple of hours with the money.’ The purchaser returns with the money and confirms that the vendor is ready to leave and the house is vacant. The vendor has an office copy and a signed Form of Transfer in one hand and the keys in the other. The purchaser swaps his £175,000, for those three items. The deal is done.

The purchaser sends the Land Certificate and the Transfer to the Land Registry along with Form AP1 – Application to Change the Register, the Land Transaction Return SDLT1 – see page 156, Form DI, in which you should insert any ‘disclosable overriding interests’ such as legal rights of way or leases of which you are aware, and the registration fee. He is now the registered proprietor (subject to the verification of identity of any unrepresented parties). This is to prevent fraud.

Because people tend not to take other people’s word for things nowadays, it takes a bit longer than this, but basically what appears above is the beginning and end of a sale and purchase of registered land. It contains everything that has to be done to transfer ownership.

The instructions that follow are for the purchase and sale of a freehold dwelling in England or Wales which is already registered.

The procedures for buying from a council are completely different; leases and gifts are special cases. Transferring a leasehold property is similar in many ways. However, if you require a lease drafted from scratch, this is likely to be more complicated. If you are buying from a developer, you are not likely to have much choice in the matter. If you are buying from a council, you may, in fact, require legal advice.

The instructions should also be read with reference to chapter 8, regarding contracts. For the purpose of illustration, we will assume that you are a first-time buyer and need to take a mortgage, or that you are the vendor of a £175,000 house. There is some repetition of what has gone earlier – unfortunately, it cannot be avoided so please look on it as part of the teaching and learning process.

One general rule of thumb, which is obvious and hardly needs mentioning, is that if you send something to the other party to the transaction, always keep a copy for yourself. This will avoid disputes and means that you can save time if the other party loses the things that you have sent to him.

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