Plan ahead to avoid delays in property transactions
By Rachel Beard
Property transactions are frequently delayed because essential plans are not made available at the outset of a transaction.
Why are plans so important?
- Pre-contract searches against a property can take weeks to arrive and so it is important that your lawyer applies for them early in any transaction. In order to do that, they need a clear plan showing the boundaries of the property that is being acquired or funded.
- Plans are used to identify rights that are granted and reserved over property, e.g. a right to park cars in allocated spaces.
- If a transaction needs to be registered at the Land Registry, that cannot be done without a Land Registry-compliant plan. Delays in registration mean a delay in acquiring legal title and risk losing priority to another’s interest…
Click on the link below to read the rest of the Shoosmiths briefing.
Sign in or Register to continue reading this article
It's quick, easy and free!
It takes just 5 minutes to register. Answer a few simple questions and once completed you’ll have instant access.Register now
Why register to The Lawyer
In-depth, expert analysis into the stories behind the headlines from our leading team of journalists.
Identify the major players and business opportunities within a particular region through our series of free, special reports.
Receive your pick of The Lawyer's daily and weekly email newsletters, tailored by practice area, region and job function.
More relevant to you
To continue providing the best analysis, insight and news across the legal market we are collecting some information about who you are, what you do and where you work to improve The Lawyer and make it more relevant to you.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
Changes have the potential to affect how developments moderate their impact through the use of Section 106 obligations.
This is the last of three articles discussing changes in the law applying to the termination of assured shorthold tenancies (ASTs).
Analysis from The Lawyer
Compliance and corporate governance codes for large financial institutions will undoubtedly include provisions to regulate high pay in the future
There’s more to the ABS model than attracting the man in the street and procuring external investment. Partners at the big corporate firms, take note…