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Author Archives: Mahinan Pathmanathan
What are Land Transaction Returns and SDLT?
Sometimes, certain documents require payment of SDLT to the HMRC within 30 days of completion of transaction. This article discusses the method of payment and other details regarding SDLT. SDLT is to be paid only on the value of the … Continue reading
Buyer conveyancer’s job after property sale completion
A conveyancing solicitor’s job does not end with completion; there are a number of things that are to be dealt with immediately. The following are the steps to be undertaken by the conveyancing solicitor acting on behalf of the buyer. … Continue reading
Seller conveyancer’s job after property sale completion
A conveyancing solicitor’s job does not end with completion; there are a number of things that are to be dealt with immediately. This article explains the steps to be carried out in most transactions, although some of them may not … Continue reading
Property sale completion through post
It is uncommon (especially for residential transactions) for the conveyancing solicitor to attend the completion personally. Usually, this is arranged by post, but the arrangement should be discussed early, i.e. at the time of sending the requisitions for title. The … Continue reading
Property sale completion by personal attendance
While it is common for completion to be undertaken through post in residential conveyancing, sometimes when the transaction is complicated, they are undertaken by personal attendance of solicitors of both parties. The following article discusses these in detail. What happens … Continue reading
Procedure of disbursing money in property sale transaction
This article discusses about the procedure involved in disbursing money. Details such as method of payment, discharge of seller’s mortgage, release of deposit etc. are also discussed. Method of payment As per both the standard conditions, the consideration for the … Continue reading
Regulations about place of property sale completion
This article discusses the place where completion is effected; both in the case of chain transactions and when completion is done by post. By SC 6.2 (SCPC 8.2) completion for property in England and Wales should be either at the … Continue reading
Regulations about time of property sale completion
Time is of importance when a residential transaction is dependent on receipt of money from the related sale transaction. The following article explains the significance of time in a transaction. A conveyancing solicitor should make sure that all arrangements are … Continue reading
Regulations about date of property sale completion
This article explains the importance of choosing the right completion date. It also explains the consequences of a delay in effecting completion. The date of completion is discussed between the seller and the buyer before the exchange of contract. Such … Continue reading
Purpose and effect of a property sale completion
This article explains how the process of completion affects different people involved in the transaction. The parties to the transaction, i.e. the buyer and the seller would be undoubtedly excited. But for a conveyancing solicitor, it is a part of … Continue reading
Property sale completion checklist
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 … Continue reading
Seller conveyancer’s financial statement to buyer
The seller’s conveyancing solicitor is required to send a statement to the buyer’s conveyancing solicitor explaining him the remaining money required to complete the transaction. The buyer’s conveyancing solicitor should check this statement for accuracy and inform of any discrepancies … Continue reading
Buyer conveyancer’s financial statement to client
The buyer’s conveyancing solicitor should arrange for a financial statement to be sent to his client stating the total sum due from him on completion and a brief explanation as to how this was calculated. In addition to these matters, … Continue reading
What are land transaction returns?
Once a property sale completion is over, the land transaction must be returned to the HMRC informing them about the details of the transaction and the buyer. This procedure should be followed even when SDLT is not payable. Form SDLT1 … Continue reading
Completion statement in property sale transaction
A completion statement refers to the statement prepared by the seller’s conveyancing solicitor indicating the amount of money required to complete the transaction and how the figure is arrived at. This article discusses about the checklist to be prepared when … Continue reading
Apportionment of charges prior to property sale completion
Outgoings such as water or rent should be settled before completion. But in instances when this is not done, outgoings on the land can be split between the parties to the contract. This article discusses about the process undertaken to … Continue reading
Sale completion process of a mortgaged property
The lender has to be assured that the property on which the loan is advanced is worthy of the money advanced and that the money can be recovered from the borrower. This article discusses the process to be undertaken by … Continue reading
Buyer’s checklist prior to property buy completion
The following are the issues to be checked by a buyer’s conveyancing solicitor: 1) Make sure that the transfer deed has been approved and all requisitions are to his satisfaction. 2) Engross all transfer and mortgage deeds. 3) Arrange with … Continue reading
Seller’s checklist for property sale completion
The conveyancing solicitor for the seller has to make sure that: That the transfer deed has been approved and all requisitions have been answered. The transfer deed has been received from the buyer, and it has been executed (when appropriate) … Continue reading
Comparison of Land Registry and Land Charges Department Searches
OS1 or OS2 K15 This is made for registered land This is a form applicable on for transactions on unregistered land. A search is made against the title number of the land A search is made against the owner’s name … Continue reading
‘Priority period’ in land registry searches
This article discusses the relevance of priority periods granted by the official copies of the search certificates. Registered land The search certificate provided by the Land Registry is subject to a priority period of 30 days during which buyers are … Continue reading
What if search results are unsatisfactory to buyer’s conveyancer?
Unless results of all search results are obtained and are satisfactory to the buyer, the conveyancing solicitor cannot proceed with the completion. This article discusses about the procedure to be followed when search results are less than satisfactory. In most … Continue reading
Importance of local land charges search and enquiries
This article discusses the relevance and implications of conducting a local land charges search and other enquiries at the pre-completion stage. A search for local land charges are not usually conducted during the pre completion stage as they reveal the … Continue reading
Importance of Local land charges search and enquiries
This article discusses the relevance and implications of conducting a local land charges search and other enquiries at the pre-completion stage. A search for local land charges are not usually conducted during the pre completion stage as they reveal the … Continue reading
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