TC51: PROPERTY TRANSFERS – IMPLICATIONS FOR PROPERTY MANAGERS
A one-day training course enabling those involved with property transfers to read leases constructively and deal confidently and safely with the process to ensure a smooth transfer of the property to the purchaser.
What the course covers:
• Locate and interpret the specific Lease Covenants relating to Transfers of Property, identifying the actions required by the relevant parties (e.g. property managers, conveyancers, leaseholders, etc.)
• Identify the responsibilities of the conveyancer – Including the use of LPE1 and LPE2 forms over ad hoc information requests, etc.
• Complete an LPE1 and LPE2 document accurately and as completely as is appropriate for the purposes of the transfer
• Clarify and avoid the potential pitfalls associated with providing inaccurate information or prejudicial information that has not been requested
• Identify the requirements for/compliance with: Licences to assign, Deeds of Covenant, Certificates to satisfy restrictions at the Land Registry, etc. – when and why they may be required
• Stock transfer forms and issuing new share certificates (dealing with lost certificates!)
• Receipting notices of transfer and/or charge
• Ensure all charges due are accounted for and paid to the point of transfer. (This includes any remedial action that may be allowed if an account is not cleared)
• Deal appropriately with possible year-end deficits/credits as part of the conveyance process
• Identify the key elements of effective welcome correspondence to new leaseholders.
• Legal staff who need to understand the requirements of the lease in the transfer of property.
• Property managers whose input is required during the property transfer.
• It may also be suitable for any other members of staff who are involved in property transfer and Company Secretary duties.
• This course would also be suitable for those in lettings moving into residential leasehold management.