Conveyancing Glossary
- Land Charges
- Land Charges is a very important department for conveyancing solicitors when dealing with unregistered conveyancing transactions. Land Charges is a department of the Land Registry and contains details of Land Charges or incumbrances on unregistered land. When an unregistered property is sold the conveyancing solicitors acting on behalf of a purchasing conveyancing client undertake a Land Charges conveyancing search against the full names of the current owners and the county or former county which the property is located in. The results can reveal to the purchaser’s conveyancing solicitors unregistered or puisne mortgages or secured loans or restrictive covenants registered with Land Charges against the property amongst other entries which must be revealed in the conveyancing process.
- Land Registration Act
- The Land Registration Acts are a very familiar piece of legislation to conveyancing solicitors in conveyancing practise and set out the formal processes and requirements of land registration for conveyancing solicitors and conveyancing practitioners. It is now compulsory to register all land and overriding interests in land as part of the conveyancing process on transfer of a property from one owner to another and the Land Registration Acts set out how the registration process should be dealt with by conveyancing solicitors.
- Land Registry
- See Her Majesty’s Land Registry.
- Land Registry Fee
- The Land Registry Fee is a conveyancing disbursement and a fee payable to the Land Registry for updating the register of title for the property upon completion of a purchase conveyancing transaction. The fee is collected by a purchaser’s conveyancing solicitors as a conveyancing disbursement and the cost is calculated by a scale fee set by the Land Registry which relates to the purchase price of the property. The Land Registry fee will be paid on submission of the application for registration by the conveyancing solicitors acting on behalf of the purchasing conveyancing client following completion of the purchase but before conclusion of the conveyancing process.
- Land Registry Search
- In conveyancing transactions a Land Registry Search is a conveyancing search also known as an OS1 or OS2 search which freezes the register of title for a property. It is usually carried out by a purchaser’s conveyancing solicitors in order to obtain priority for their purchasing conveyancing client’s application for registration. In the case of a conveyancing client purchasing for cash the conveyancing solicitors will name the purchasing conveyancing client as applicant in the Land Registry Search and priority given will be in favour of the new purchaser but when a mortgage is being obtained to assist a purchasing conveyancing client as part of the conveyancing transaction the search will be carried out by the conveyancing solicitors in favour of the mortgage lender to protect an impending charge. A small fee is charged by the Land Registry which will collected in by the conveyancing solicitors acting and be shown on a purchasing clients conveyancing invoice or completion statement as a conveyancing disbursement incurred during the course of the conveyancing. The cost is usually £3.00 per title.
- Landlord
- A Landlord when used in conveyancing terms means the owner of the freehold title to a property from which a lease has been granted. Also used in conveyancing to refer to a superior lessor or leaseholder who has granted a lease out of a superior leasehold title. Leasehold conveyancing can be complicated in some instances.
- Law of Property Act
- The Law of Property Act is again a very familiar piece of legislation to conveyancing practitioners and conveyancing solicitors alike and is the main piece of legislation that deals with land law and the conveyancing process in England and Wales.
- Lease
- A Lease is seen in every leasehold conveyancing transaction. The Lease is a formal legal document usually drafted by conveyancing solicitors or licensed conveyancers granted by a landlord or superior leaseholder to a tenant or lessee for the use and occupation of a piece of land or a property for a set period of time usually in consideration of a ground rent and capital payment. The terms on which the property is let will be fully set out in the Lease and purchaser’s conveyancing solicitors acting for a purchasing conveyancing client in a leasehold conveyancing transaction will carefully check the Lease contains all the details of any rights and easements granted for the benefit of the property and any reservations or exceptions from the Lease and details of all covenants to which the purchasing conveyancing client will be subject to on completion of the purchase. Often Leases last a long time and in the case of purchases of existing leases the new purchaser will be subject to the existing Lease as if they were the first tenant or lessee. The transfer of an existing Lease to a new purchaser is known as an Assignment of the Lease and the conveyancing solicitors will draft the purchase deed assigning the Lease as part of the conveyancing process. The purchaser’s conveyancing solicitors will also during the course of the conveyancing transactions supply a copy of the Lease to the purchasing conveyancing client and provide an explanation.
- Lease Term
- In conveyancing terminology the Lease term is the number of years for which the lease is granted. In many conveyancing transactions the lease term does not start from the date of the lease but instead starts from a commencement date usually when the first Lease within the building began. This is included in a Lease by conveyancing solicitors when drafting the Lease to ensure all Leases granted in the building also end of the same date. When acting for a conveyancing client purchasing an existing lease it is important for the conveyancing solicitors to ascertain the number of years remaining on the Lease. Leases which only have short terms remaining may require extending usually by the seller’s conveyancing solicitors but sometimes by the purchaser’s conveyancing solicitors as part of the conveyancing process by way Deed of Variation varying the term of the Lease to ensure the property’s suitability for lending purposes and value for future saleability. When advising a conveyancing client purchasing a leasehold property with a short term remaining the conveyancing solicitors should point out any future potential issues like this in the conveyancing reports provided as part of the conveyancing process. In conveyancing transactions most mortgage lenders set out in the CML Handbook the unexpired term of lease they are willing to accept which is often the mortgage term for the purchaser’s conveyancing solicitors to check. It is often the length of the mortgage term plus 30 years although many lenders have differing requirements.
- Leasehold
- Leasehold is a term used often in conveyancing transactions. Leasehold is a form of ownership of property where the property is owned for a set period of time as opposed to Freehold where a property is owned forever. Some conveyancing solicitors choose to specialise in leasehold conveyancing transactions.
- Leasehold Enquiries
- Leasehold Enquiries are a set of questions usually sent to the seller’s conveyancing solicitors by a purchaser’s conveyancing solicitors to obtain full details of the leasehold property a purchasing conveyancing client is proposing to buy. The seller’s conveyancing solicitors will normally send leasehold conveyancing enquiries to the Landlord or management company of a property for replies before forwarding the replies to the purchaser’s conveyancing solicitors. The Leasehold Enquiries raise questions important to a leasehold conveyancing transaction such as the annual amount of service charge payable to the landlord or management company of the property by the current owner and include requests for copies of documents such as building insurance block policy documents and audited accounts of the management company of landlord for the previous 3 years. The Leasehold conveyancing Enquiries raised by the purchaser’s conveyancing solicitors help to ascertain the suitability of the Lease for lending purposes such as asking if all other leases in the building are subject to similar covenants and ensure no action is being taken in respect of forfeiture of the lease. In conveyancing transactions involving the purchase of a flat for a conveyancing client Leasehold conveyancing Enquiries are very important and ensure large arrears of service charge have not been built up by the sellers or action commenced by a landlord. Conveyancing solicitors must also ensure conveyancing clients and conveyancing client lenders are aware of any large sums envisaged in respect of the repair and maintenance of common parts of the building or wider estate within the near future during the course of the conveyancing process.
- Leasehold Information Form
- A Leasehold Information Form is sent to a selling conveyancing client in a leasehold sale conveyancing transaction by the seller’s conveyancing solicitors and usually completed by the seller’s and then provided to the purchaser’s conveyancing solicitors in the course of the conveyancing transaction. It provides information to a purchaser’s conveyancing solicitors relating to the Lease for the property. It contains details of the ground rent and service charge and the Landlord’s details. In some cases a Leasehold Information Form may not be completed and the information may be gained via the raising of leasehold enquiries by the purchaser’s conveyancing solicitors to be answered by the landlord or management company via the seller’s conveyancing solicitors.
- Legal Executive
- A legal executive is a qualified lawyer (usually a specialist) who has undertaken the relevant educational courses, passed the relevant examinations and completed the required period of qualifying employment in order to be awarded the title of Legal Executive by the Institute of Legal Executives. Many legal executives undertake conveyancing work and some specialise in conveyancing transactions. Many legal executives work for conveyancing solicitors firms.
- Lessee
- A term used frequently in the conveyancing process to describe the tenant or owner of a leasehold property.
- Lessor
- Another name seen often in conveyancing transactions to describe the landlord.
- Licensed Conveyancer
- A specialist conveyancing property lawyer who has undertaken the relevant educational courses and successfully passed the relevant examinations in conveyancing in order to qualify to be awarded a license to practise as a Licensed Conveyancer by the Council for Licensed Conveyancers (CLC). Like a conveyancing solicitor, a specialist in conveyancing transactions.
- Limited Title Guarantee
- In conveyancing contracts Limited Title Guarantee confirms the seller’s legal right to sell the property but differs from Full Title Guarantee conveyancing transactions in that the selling conveyancing client cannot completely confirm the freedom from incumbrances and adverse rights usually due to the fact that the seller has never occupied the property and does not have personal knowledge of the property. Limited Title Guarantee is often included in conveyancing contracts by the selling conveyancing solicitors when the conveyancing transaction involves conveyancing clients such as Personal Representatives of a deceased owner or when the selling conveyancing client is a mortgage lender. The selling conveyancing solicitors will normally decided which form of title guarantee should be included in the conveyancing contract.
- Local Land Charges
- In conveyancing terms Local Land Charges is a register kept by the local authority which records any matters (incumbrances) affecting a property located within the authority’s area. As part of the conveyancing process Local Land Charges will be searched and results obtained by a purchaser’s conveyancing solicitors. Any entries revealed to the purchaser’s conveyancing solicitors will be investigated with the selling conveyancing solicitors during the conveyancing process.
- Local Search
- The Local Search is a conveyancing search carried out by checking the registers of the Local Authority to reveal any entries contained for the particular property. The Local Search will reveal many matters essential for the correct processing of the conveyancing of the purchase such as the status of adjoining roads to the property (if they are adopted and maintained at the expense of the authorities or if they are private) and give details of any local land charges registered against the property which the purchaser’s conveyancing solicitors need be aware of. This conveyancing search will also reveal matters such as previous planning and building regulations which the purchaser’s conveyancing solicitors can then take up with the conveyancing solicitors acting on behalf of the selling conveyancing client. Local land charges can reveal entries such as Smoke Control Orders (Orders to restrict the type of smoke that can be discharged from a property) which when applicable to a property the conveyancing solicitors acting on behalf of a purchasing conveyancing client will advise the purchasing client that should an open fire be used only smokeless fuel may be used. It will also reveal Tree Preservation Orders (Orders which protect trees) and conveyancing solicitors acting on behalf of a purchasing conveyancing client will request a copy of the Tree Preservation Order is provided by the seller’s conveyancing solicitors which will detail any protected trees which may affect the property and pass this information onto the purchasing conveyancing client. Local authority financial grants or loans that may be registered as Land Charges and are repayable to the authority will also be revealed and the purchaser’s conveyancing solicitors will investigate entries such as this requesting an undertaking from the seller’s conveyancing solicitors to repay financial charges on completion of the conveyancing as part of the conveyancing title investigations. Local searches are an essential part of the conveyancing process and provide information about incumbrances to which a property is subject to which the purchasing conveyancing client may need to be aware of. All conveyancing solicitors will strongly recommend obtaining a local search result when acting for a purchasing conveyancing client. In the case of a purchasing conveyancing client buying a property with the aid of mortgage finance conveyancing solicitors must carry out this search in order to comply with their mortgage instructions. Local search results must now be provided within the Home Information Pack which must now be commissioned before a property can be marketed for sale by a selling conveyancing client. Local searches can be carried out by the local authority staff themselves (usually located in a department of the local authority known as land charges) or by way of a personal search agent who will visit the local authority and physically inspect the registers held.
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