The conveyancing solicitor in charge of preparing the completion statement should make a checklist of the important things to be included so that nothing is overlooked. This article lists out the things that should be checked.
When a person is appointed as an agent for the buyer to undertake the completion, the buyer should make sure that this agent has a copy of the checklist so that the agent is aware of the issues that are dealt with and those that need further attention.
Some of these items are required to be completed on the date of actual completion. It should contain an itemized list of documents that are to be inspected, marked, and handed over on completion.
Documents that are to be made available at completion include;
a) Contract papers
c) Copy transfer deed
d) Answers to requisitions
e) Completion statement etc.
Documents to be inspected by the buyer
a) The title deeds. In an unregistered land, these are not handed over to the buyer after completion.
c) Grant of administration
d) Demands of apportionment if it is not previously supplied
Documents that are to be handed to the buyer on completion
a) Title deeds
b) Original lease
c) The transfer deed duly executed
d) Schedule of deeds
e) Form DS1 or discharged mortgaged or an undertaking in respect of this discharge.
f) Receipt of money paid for the chattels
g) Keys of the property
h) Certified copy of a memorandum endorsed on retained deeds
Documents and things to be handed over to the seller after completion:
a) The executed duplicate transfer deed/counterpart lease whenever considered appropriate
b) The schedule of deeds received from the seller
c) The release of deposits if it is held by a third party (on behalf of the seller)
Endorsements on documents
a) In the case of a part of an unregistered land, an endorsement of sale in the most recent document of title.
An abstract or epitome that is marked up as compared with the original deed in the case of unregistered land and with respect to those documents that shall not be handed over on completion.
Photo courtesy: Felix O
