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 4 . . .
Property Development
Approval of draft transfers and Leases
Additional Provisions
This panel is used by Property Lawyers and Conveyancing Solicitors for Developers for grants and reservations of easements, estate rentcharges, restrictive covenants, personal covenants, agreements and declarations and any other agreed provisions, and for any required or permitted statements, applications, etc. Conveyancing Solicitors and Property Lawyers should arrange them under appropriate sub-headings. The subheadings in the prescribed forms are:
- Definitions
- Rights granted for the the benefit of the Property
- Rights reserved for the benefit of other land
- Restrictive covenants by the Transferee
- Restrictive covenants by the Transferor
Conveyancing Solicitors and Property Lawyers can add to, amend, reposition or delete those sub-headings as desired. For example, the sub-heading 'Rights reserved for the benefit of other Land' could be divided into 'Rights reserved for the benefit of the adjoining Property' and 'Rights reserved for the benefit of the remainder of the Estate'.
Definitions
Conveyancing Solicitors and Property Lawyers should provide definitions in the additional provisions panel where they are necessary to give certainty to the meaning of the transfer. Terms such as 'the development', 'the perpetuity period', 'the estate', 'the estate road' and 'the estate plans' in particular should be carefully defined. Do not however redefine 'the Property', 'the Transferor' or 'the Transferee' as this could affect the meaning of the transfer panel.
Easements
The draft transfer submitted for approval should set out, under appropriate sub-headings in the additional provisions panel, all the easements granted and reserved in the transfers, even though they may not be required in every case. If you cannot adequately describe the extent of the Land that either benefits or is subject to the easements, Conveyancing Solicitors and Property Lawyers should clearly define it by a reference on a plan.
Easements to be included in certain cases and not others should be enclosed in square brackets in the draft, and a note should be provided giving the numbers of the plots which will, or alternatively will not, have the benefit of, or be affected by, the easement. When preparing transfers of individual units based on the approved draft, Conveyancing Solicitors and Property Lawyers should omit easements that do not relate to or affect the unit.
When approving the draft transfer, Land Registry will confirm, provided the Developer's title to grant them has been properly shown, that the easements granted will be registered as appurtenant to purchasers titles.
Conveyancing Solicitors and Property Lawyers do not need to include words of grant or reservation if they list the rights under the appropriate sub-headings.
Rentcharges
The creation of most rentcharges was prohibited by the Rentcharges Act 1977, but it is still possible to create estate rentcharges.
A principal purpose of estate rentcharges is to meet the cost of the performance by the rentowner of covenants for the provision of services, maintenance or repairs, insurance or other payments for the benefit of the Land affected by the rentcharge. These rentcharges and covenants will form part of a scheme for the management of the estate. Conveyancing Solicitors and Property Lawyers may find precedent transfers reserving rentcharges of this kind.
Where estate rentcharges are to be reserved the appropriate wording should be included under a suitable sub-heading in the additional provisions panel. To be effective at Law the rentcharge must be registered and notice must be entered in the register of the title affected. However, Land Registry will only substantively register the rentcharges if a specific application for registration is made and the prescribed fee paid.
Restrictive Covenants:
Conveyancing Solicitors and Property Lawyers should include words of covenant, which will annex the benefit of the covenants to the Land they intended to benefit. Land Registry will note the burden of restrictive covenants on the register, but there is no provision in the Land Registration Act 2002 or the Land Registration Rules 2003 to enter the benefit of the covenants.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 6 (Manchester Conveyancing Solicitors Property Lawyers for Property Developers 6)
Please telephone Paul on 0161 866 8999 if you require any further information.
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