Restriction = No Disposition by a Sole Proprietor = Tenants in Common

TITLE INVESTIGATION – REGISTERED LAND ONLY  Restriction = No disposition by a sole proprietor = Tenants in common This prevents overreaching unless there are two trustees that can sell. If ther is only one registered proprietor then ne new trustee will be appointed for the purposes of dealing with overreaching. The trust has (e.g. £300K) in the form of land. Where there are 2 trustees as registered proprietors then they can sell the property and the restriction is overreached. The trust is then swept in the sale proceeds and the trust has simply changed from to sale proceeds.  Restriction in the favour of the bank – if buying and the charge is being released, no consent is needed because charge will be released. If it’s a disposition (eg lease) subject to the charge, then consent is needed/  Section 79 LPA – Original covenantor ALWAYS on the hook for covenants. They can get an indemnity to get any costs/ liabilities recouped if they are claimed. Property Register Property address Leasehold- Lease details Proprietorship Register Legal owners Title class Local Authority Price paid (after 1 April 2020) Restrictions on dealing Reference to Plan General indication of land shown red on plan Tenure Rights benefit from Matters to which the property is subject to if those matters are joined with rights granted Personal Covenants Charges Register Charges Subject to rights, covenants ( restrictive or positive) Occupational Leases Contracts shown as a unilateral notice or agreed notice (UN1/AN1) IDEA – answer TITLE INVESTIGATION Identify The property benefits from a right of a way over alley. This is set out in the Property Register entry 2 of the title Register The property benefits from a right of way over BA. This is set out in the Property Register entry 2. BA (part of property) is subject to a right of way over BA. This is set out in the property Register Entry 2 of the title Register. BA (property’s Describe The property benefits from a right of a way over the land shown hatched black on the title plan. Explain This means that there is no express right of way over the area of Blakes Valley not shown hatched black. There is a gap between Blakes Alley and Fletton Street Therefore, there is no way to lawfully access the Property Via Blakes Valley This right can only be used during ‘normal working hours’ The property benefits… shown in black (as above) BA (part of the property) as shown is subject to a right of way over the land sown hatched black on title plan The seller and Normal working hours is not defined We need to establish what normal working hours is and what it means so the client does not beach it. Also has the seller breached previously? We need to know who exercises this right to ensure that it is used properly This means that Action Find out who owns the part of blakes alley not shown hatched blacked. Will they grant us a right of a way? Can we deal via this via a Deed of Variation to the existing conveyance or can a new right be granted? Has BA been used for over 20 years? – prescriptive easement? Equity to seller – is it currently used and if so by whom? Any complaints/correspondence etc? The right was granted in 1973 so we need to think about what normal working hours could have been then? Indemnity from seller? Enquiry – any complaints received? Raise enquiry with seller Enq to seller: part) is subject to a right of way of BA These mutual rights are subject to a joint contribution towards the cost of maintenance of BA Property is subject to a restriction at entry 2 of the proprietorship register in favour of Barclays Bank The property is subject to a restrictive covenant at entry 1 of the charges register the other parties that enjoy a right of way over BA must jointly contribute towards the cost of maintain and repair BA the owner of the property must pay money towards maintaining and repairing BA. The proprietor cannot dispose property without the bank’s consent Consent is required if the charge is saying on the title. The buyer will not wat to buy the property subject to the charge and therefore we will need to have the seller to undertake that charge will be released before/on completion. This will obviate the need for consent The owner of the The buyer cannot property must use the property not use the nor permit others property for any to use the other purpose property for other than offices anything else than offices - Who is responsible for actioning the repair and maintenance? - What payments and repairs have been done previously? - Any debts? - Any disputes? - Payment history – how much? - How is the cost divided? A condition must be put in the contract that obliges the seller to arrange for the charge to be released before/on completion. No consent will therefore be needed. Enq seller: - Do we know any breaches? Any disputes? Any correspondence - Indemnity policy if client still wants to proceed - Can try to get the covenant removed if liaise with original The property is subject to a restrictive covenant at entry 1 of the charges register Not to alter the exterior of the property without Ashton Gate Prop Ltd’s consent Buyer cannot redeveloped and change outside without consent parties but this will prevent insurance being an option Recent covenant therefore insurance unlikely to be expensive Maybe contact Ashton Gate for consent/variation of covenant And enq to seller: any known breaches? Anny disputes? Any correspondence? The property is subject to a positive covenant at entry 1 of the charges register Property is subject to a chare entry 2 of the charges register. Must maintain wall in good repair and condition Property subject to a mortgage Owners pay and perform maintenance and repair on rear wall Enq to seller: any known breaches? Any disputes? Any correspondence? Also – costs and work so far? Seller likely to want an indemnity as this will run Client will want property free of mortgage Is client happy with this? Survey – current state? Forecast of costs? A condition must be put in the contract that obliges the seller to arrange for the charges to be released before completion. Entry 3 of the charges register is the beneficiary of charge IDEA – Tenants in Common Identify Mines and minerals A3 Describe Third part rights to work on mines and get minerals Explain Third party can dig land and get minerals under subsoil Action Indemnity Enquires Any attempts to exercise? Correspondence Dsisputes? Reg Prop B1 holds tenants in common Unknown restrictive covenants C1 Covenant C2 Legal owners hold the beneficial interest on trust in equal shares agreed Unknown restrictive covenants may affect title because the conveyancer wasn’t produced on first registration Restrictive use only as a private dwelling This is a restrictive covenant so it runs with the land Covenant C2 ChargeC3 and C4 Positive – keep mental railings in good repair Need at least 2 legal owners/ Trustees to sign Third party can claim for breach of covenant Appoint a second trustee/Use PR if only one is alive Insurance Clients want to use for commercial purposes – this covenant prohibits it Insurance – financial fix only There is a chain of indemnity – See B3 Positive covenant doesn’t run automatically unless there a chain of indemnity Charges registered Client will against the want property property free of charges Enq to seller - Any claims? Disputes? Correspondence ? Enq- any claim, disputes or correspondence known? Release from original cov’tee invalidates chances of insurance Land tribunal – Expensive, long and complex Client must pay and perform the covenant Undertakin g to discharge DS1 from Seller’s solicitor Enq - Any claims, breaches, correspondence or dispute known? Enq – enough money? Enq- get undertakings from Seller’s sol? Enq – has selle’s sol been in touch with Contract to transfer property free of charge mortgagee for redemption statement?