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.
News from Shoosmiths
News from The Lawyer
Briefings from Shoosmiths
From 1 October 2014, three new pieces of safety legislation will come into force in the UK.
An employee or witness who is fearful of giving evidence as part of a disciplinary process can cause difficulties for an employer.
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…