Conveyancing Glossary
- Occupancy Restrictions
- A small number of property’s may be subject to occupancy restrictions and will only be sold such persons that meet the criteria set out for occupancy of the property. This can be relevant to such properties as retirement flats that require the owner to be over a certain age or property located in certain locations in the country (such as certain areas of the Lake District) where only persons with a local interest may be able to purchase the property. Conveyancing solicitors will advise a purchasing conveyancing client and mortgage lender of any occupancy restrictions when investigating the title to a property as part of the conveyancing process.
- Occupiers Consent Form
- An Occupiers Consent Form is a common term used in the conveyancing process by conveyancing solicitors. An Occupiers Consent Form is a form required to be signed by a non-owning occupier of a property when mortgage finance is being used in order to purchase or remortgage by a purchasing or remortgage conveyancing client. The form acts as a waiver of the occupier’s rights to occupy the property should the mortgage lender by required to repossess and sell the property. A purchaser’s conveyancing solicitors will require the signed form and will provide this to the mortgage lender following formal completion of the conveyancing process and post completion conveyancing work. The purchaser’s or mortgage lender’s conveyancing solicitors will advise the non-owning occupier to seek legal advice from independent conveyancing solicitors before signing the Occupiers Consent Form to avoid any conflict of interest arising during the conveyancing process.
- Official Copy Entry (Office Copy) (OCE)
- A common term used in conveyancing transactions by conveyancing solicitors this is a copy document usually issued by a Public Office such as the Land Registry or Probate Registry. An office copy usually contains a seal to guarantee its authenticity.
- Official Copy Register Entries of Title
- The Official Copy Register Entries of Title is a very important document seen in all registered land conveyancing transactions by conveyancing solicitors acting. The Official Copy Register Entries of Title is an official copy of the register entries held by the Land Registry relating to a property or piece of land that has been formally registered with the Land Registry. It comes in three parts. Part A is the Property Register. The Property Register sets out the property description and address details. It also shows entries relating to any rights granted for the benefit of the property and may contain entries that relate to Deeds that contain such rights. A seller’s conveyancing solicitors will check this part of the register to ensure the conveyancing contract accurately reflects the property as described on the register. Conveyancing solicitors acting for purchasing conveyancing clients will check the property description and request any copy documents mentioned in the property register which may give rights for the benefit of the property from the seller’s conveyancing solicitors. Copies of such documents will be provided to the purchasing conveyancing clients by their conveyancing solicitors. Part B is the Proprietorship Register. The Proprietorship Register sets out the name and address of the current registered proprietors (owners) of the property and may also contain restrictions on sale notices and cautions against dealings with the property. Conveyancing solicitors acting on behalf of selling conveyancing clients will ensure the seller’s details are entered correctly on the conveyancing contract for the sale. Conveyancing solicitors acting on behalf of purchasing conveyancing clients will also check that the sellers are correctly entered and are entitled to sell the property. The purchaser’s conveyancing clients will also request details from the seller’s conveyancing solicitors of any notices restrictions or cautions registered against the property as part of their conveyancing duties when investigating title to the property on behalf of the purchasing conveyancing client. Part C is the Charges Register. The Charges Register sets out any incumbrances on the property and may include a schedule of restrictive covenants entries relating to further Deeds that may contain restrictive covenants and any registered mortgages or charges. The purchaser’s conveyancing solicitors will request undertakings from the seller’s conveyancing solicitors to ensure any financial charges such as mortgages will be removed from the charges register on completion of the conveyancing process. The purchaser’s conveyancing solicitors will also request that the seller’s conveyancing solicitors provide copies of any deeds containing restrictive covenants in order to ascertain the incumbrances attached to the property on behalf of the purchasing conveyancing clients in the process of conveyancing title enquiries. The purchaser’s conveyancing solicitors will provide copies of these documents to the purchasing conveyancing clients as part of the conveyancing transaction. The Official Copy of Register Entries is a very important document in the conveyancing of registered land. It is this document that sets out the matters affecting the legal title of a property and the purchaser’s conveyancing solicitors will raise queries relating to the entries revealed on the official copy register entries. It is also the register that will be updated to reflect the new purchase conveyancing client’s ownership of the property once completion of a purchase and subsequent registration of the title has taken place in the conveyancing process. If a purchasing client is buying with the aid of mortgage finance the new mortgage will also be registered by the conveyancing solicitors acting at the same time and an entry placed in part C of the register relating to the mortgage.
- Overreaching
- Overreaching is a term used in conveyancing by conveyancing solicitors to describe the overreaching of a beneficial owners (but not necessarily legal owner) rights to occupy the property in the conveyancing process undertaken in the sale of a property. In some conveyancing transactions particularly when a property has been owned by joint proprietors as tenants in common and one of the proprietors have died it may be necessary for the seller’s conveyancing solicitors to attend to the appointment of a second trustee as part of the conveyancing process in order to overreach any beneficial interest in the property and provide the purchaser’s conveyancing solicitors with a correct purchase deed. A purchaser’s conveyancing solicitors will insist a second trustee is appointed and ask the seller’s conveyancing solicitors to provide a completed and signed Transfer (TR1) appointing a second trustee to ensure the purchasing conveyancing clients ownership of the property can be correctly registered as part of the conveyancing process. Overreaching can also refer to the right by the mortgage lender in exercising their powers of sale over a repossessed property to overreach all subsequent registrations of financial charges and to provide a transfer to the purchaser’s solicitors which will then remove all subsequent registered charges notices or restrictions on sale.
- Overriding Interests
- An Overriding Interest is a term used often in conveyancing transactions by conveyancing solicitors and is usually some form of unregistered right that may affect the property. Examples of overriding interests can be hunting shooting or fishing rights manorial rights or mineral extraction rights amongst many others. When selling a property conveyancing solicitors may ask a selling conveyancing client to complete a questionnaire confirming if there are any overriding interest of which the selling conveyancing client is aware and which the purchasing conveyancing client should be made aware of. The purchaser’s conveyancing solicitors may make further enquiries about overriding interests as part of the conveyancing enquiry process. The Land Registration Act 2002 set out new rules relating to the registration of overriding interests and all registerable overriding interests should be registered as part of the post completion work carried out by the conveyancing solicitors acting on behalf of a purchasing conveyancing client. A non-owning occupier residing at the property may also have an overriding interest in the property and a purchaser’s conveyancing solicitors may insist any non-owning occupier agrees to the sale of the property and joins in as a party to the contract agreeing to vacate the property on the completion date and ensuring vacant possession of the property is given to the purchaser. This would involve the conveyancing solicitors acting on behalf of the selling conveyancing client obtain the non-owning occupiers agreement to the sale and signature to the conveyancing contract.
- Overriding Interests Questionnaire
- A form usually completed by a selling conveyancing client as sent to them by the conveyancing solicitors setting out details of any overriding interests affecting the property. The Overriding Interests Questionnaire will then be sent to the purchasing conveyancing solicitors by the selling conveyancing solicitors along with the conveyancing contract.
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