Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester for Property Developers
Please note: Not to be used or relied upon without legal advice. These notes are for illustration purposes ONLY
continued from page 3 . . .
Property Development
Approval of draft transfers and Leases
Form of Lease
Property Lawyers and Conveyancing Solicitors for the Developer should submit draft Leases as well as draft transfers for approval.
All Leases out of registered Property granted on or after 19 June 2006 must (with certain exceptions) be in the form of a prescribed clauses Lease and contain the prescribed clauses set out in schedule 1A Land Registration Act 2003.
Preparing a draft Transfer
Title Numbers:
In panel 2 of form TP1 or TP2 Property Lawyers and Conveyancing Solicitors for the Developer should give the title numbers of all the registered titles under which the Developer holds the part of the Property that the approved draft covers. In panel 3 provide the title numbers of any other titles against which matters contained in the transfers (such as easements or covenants) are to be registered. If Developer's covenants are to be entered into, these titles must be in the Developer's ownership. Where Property Lawyers and Conveyancing Solicitors for the Developer grant an easement in certain cases and not others, they should enclose any title affected only by the easement in square brackets.
Property Lawyers and Conveyancing Solicitors should provide all the title numbers of all the registered Properties under which the Developer holds the estate. If the easements granted by the transfers, or any of them, affect other land owned by the Developer, Land Registry require the title numbers of that Land. If any easements granted are over Land, which is not registered, or registered with only a possessory title, then Property Lawyers and Conveyancing Solicitors for the Developer need to deduce title. If easements granted are over Land that is not in the Developer's ownership Land Registry requires evidence or proof of title to grant the easement.
Property Transferred
Whenever necessary, Property Lawyers and Conveyancing Solicitors for the Developer should enclose copies of the plans to be used in the transfers with the draft transfer for approval. This will provide Land Registry with a clear picture of what the Developer intends. However, where there is an approved estate plan, individual plans are only required to clarify matters (such as easements) not included in the approved estate plan.
In the Property transferred panel Property Lawyers and Conveyancing Solicitors for the Developer should insert an outline description of the properties. For example, plot numbers including any garage or parking space included in the Property. Land Registry do not want to see easements granted and reserved in this panel and suggest the additional provisions panel is the more suitable. The plans to be attached to draft transfers should be copies of (or extracts from) the latest approved estate plan showing the true scale, north point and any colours referred to in the deed. Where boundaries are of an intricate or detailed nature, e.g. where they pass through a building, a larger scale plan or insert plan may be necessary.
'Corporeal exclusions', i.e. Land within the red edging of the transfer plan that is excluded from the transfer, should be specified by the Property Lawyers and Conveyancing Solicitors for the Developer in the Property transferred panel. These need to be drafted with care, to clearly identify the location and precise extent of the exclusion. A plan reference is generally necessary. These may be specified in the positive or negative context e.g. 'excluding the first floor of the Land coloured blue on the plan' or 'including only the ground floor of the Land coloured blue on the plan'. The former will transfer the subsoil and the airspace above whereas the latter will not.
In the case of a covered passageway it may be possible to avoid a corporeal exclusion by transferring parts of the passageway with the rooms over.
Transferee Panel and Address for Service Panel:
Property Lawyers and Conveyancing Solicitors for the Developer should leave these blank at the draft for approval stage.
Transfer Panel:
Assuming the Developer is a company and the purchasers in most cases will be joint proprietors, the transfer panel may be in one of the following forms:
'The Transferor transfers the Property to the Transferees'
'The Seller transfers the Property to the Buyers'
'Transferee' or 'Buyer' could equally well be in the singular.
Whichever wording is chosen, it may be the simplest to stick to it when preparing transfers regardless of the number of Purchasers.
Consideration:
If the price to be paid is wholly in money, Property Lawyers and Conveyancing Solicitors for the Developer should choose the first option. If preparing forms electronically there is the option of omitting the remainder of this panel. If the Developer will be taking Purchasers' former properties in part payment this panel should contain two options at draft approval stage, inserting the following as the second:
'In satisfaction of the purchase price of . . . the Transferor has received from the Transferee for the Property a transfer of (brief description of the Property taken) and the sum of (the balance of the price).
Declaration of Trust:
Property Lawyers and Conveyancing Solicitors for the Developer should leave these blank at the draft for approval stage.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 5 (Manchester Conveyancing Solicitors Property Lawyers for Property Developers 5)
Please telephone Paul on 0161 866 8999 if you require any further information.
Ford Banks Irwin Solicitors
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