Residential Conveyancing - Level 2
This full day course is designed for junior level conveyancers who have completed Residential Conveyancing Level 1 and want to further their knowledge and skills in leasehold residential conveyancing.
The course will provide a comprehensive understanding of the legal requirements and processes involved in dealing with the sale and purchase of a leasehold property.
Through practical exercises, you will learn to analyze the lease and advise on its implications, identify key clauses and restrictions that may affect the transaction, and deal with enquiries related to the leasehold property.
You will also gain an insight into the challenges of representing both buyers and sellers in leasehold transactions, and understand how to communicate and negotiate with the other side effectively.
Overall, this course will equip you with the necessary knowledge and skills to confidently handle a variety of leasehold conveyancing matters.
- Recap of Residential Conveyancing Level 1
- Introduction to Leasehold Property and key differences from Freehold Property
- Sale of Leasehold Property:
- Understanding Ground Rent and Service Charges Statements
- Dealing with the Landlord (Freeholder) and Management Company
- Advising clients on Ground Rent and Service Charges at the outset of the transaction
- Drafting contract bundle to the Buyer's solicitor with or without Ground Rent/Service Charges Pack
- Pre-Exchange Contract Report to clients
- Purchase of Leasehold Property:
- Title Check and examining the Lease
- Identifying potential pitfalls in the Lease and remedial actions
- Understanding obligations to the Lender on Leasehold Properties
- Examining the Ground Rent/Service Charges Packs
- Potential impact of high Ground Rent/Service Charges
- Leasehold Property Title Report to Clients
- Pre-Exchange File Review
- Completion
- Post Completion Requirements:
- Servicing Notices and other requirements
- Checklist prior to submission of application to HM Land Registry
Upon completion of this course, you will possess the knowledge to navigate the process of buying or selling a residential leasehold property.
You will gain an understanding of the crucial steps involved, such as reviewing the lease and management pack, and reporting your findings to your client to facilitate an informed decision.
Additionally, you will learn about post-completion matters, including the time limits for tasks such as submitting and paying SDLT/LTT, serving notices to the landlord or management company, and applying to the HMLR.