SQE1 UK - FLK2 2025
Property Practice Notes
Contents
Glossary & Key Information___________________________________________________ 3
Different Types of Transactions________________________________________________ 7
Leasehold Transactions__________________________________________________ 7
Lease Provisions & Covenants_____________________________________________7
Commercial Leases_____________________________________________________ 7
Stage 1 - Pre Market__________________________________________________________ 8
Initial Instructions_______________________________________________________ 8
Professional Conduct Issues relevant to Conveyancing__________________________8
Law Society Conveyancing Protocol________________________________________ 8
Stage 2 - Pre Contract________________________________________________________ 8
Mandatory Energy Performance Certificate___________________________________ 8
Seller’s Solicitor Investigates Title__________________________________________ 8
Seller's Solicitor’s Duty of Disclosure________________________________________ 9
Contract Package_______________________________________________________ 9
Property Information Form________________________________________________ 9
Investigating Title - Registered Land_______________________________________ 10
Investigating Title - Unregistered Land______________________________________ 10
Pre-Contract Searches__________________________________________________ 10
Town and Country Planning Act 1990_______________________________________ 11
Buyer’s Funding of Purchase_____________________________________________ 11
Stage 3 - Exchange of Contracts_______________________________________________11
Methods of Exchange___________________________________________________ 11
Formula for Exchange of Contracts________________________________________ 12
Variation of Contract After Exchange_______________________________________ 12
Stage 4 - Pre Completion_____________________________________________________ 12
Pre-Completion Searches________________________________________________12
Types of Purchase Deeds________________________________________________12
Transfer Documents____________________________________________________ 12
Stage 5 - Completion________________________________________________________ 12
Methods of Completion__________________________________________________12
Key Steps of Code for Completion by Post__________________________________ 13
Effect of Completion____________________________________________________ 13
Stage 6 - Post - Completion___________________________________________________13
Seller’s Solicitor_______________________________________________________ 13
Buyer’s Solicitor_______________________________________________________ 13
Stamp Duty Land Tax________________________________________________________ 13
Exempt Transactions___________________________________________________ 13
1
, SQE1 UK - FLK2 2025
SDLT Reliefs__________________________________________________________ 14
Delayed Completion and Remedies____________________________________________ 14
Delayed Completion____________________________________________________ 14
Notice to Complete_____________________________________________________ 14
Other Remedies_______________________________________________________ 14
After Completion_______________________________________________________ 15
Security of Tenure for Commercial Tenants_____________________________________ 15
Landlord and Tenant Act 1954____________________________________________ 15
Section 25 Notice Grounds_______________________________________________15
Compensation for the Tenant_____________________________________________ 15
2
Property Practice Notes
Contents
Glossary & Key Information___________________________________________________ 3
Different Types of Transactions________________________________________________ 7
Leasehold Transactions__________________________________________________ 7
Lease Provisions & Covenants_____________________________________________7
Commercial Leases_____________________________________________________ 7
Stage 1 - Pre Market__________________________________________________________ 8
Initial Instructions_______________________________________________________ 8
Professional Conduct Issues relevant to Conveyancing__________________________8
Law Society Conveyancing Protocol________________________________________ 8
Stage 2 - Pre Contract________________________________________________________ 8
Mandatory Energy Performance Certificate___________________________________ 8
Seller’s Solicitor Investigates Title__________________________________________ 8
Seller's Solicitor’s Duty of Disclosure________________________________________ 9
Contract Package_______________________________________________________ 9
Property Information Form________________________________________________ 9
Investigating Title - Registered Land_______________________________________ 10
Investigating Title - Unregistered Land______________________________________ 10
Pre-Contract Searches__________________________________________________ 10
Town and Country Planning Act 1990_______________________________________ 11
Buyer’s Funding of Purchase_____________________________________________ 11
Stage 3 - Exchange of Contracts_______________________________________________11
Methods of Exchange___________________________________________________ 11
Formula for Exchange of Contracts________________________________________ 12
Variation of Contract After Exchange_______________________________________ 12
Stage 4 - Pre Completion_____________________________________________________ 12
Pre-Completion Searches________________________________________________12
Types of Purchase Deeds________________________________________________12
Transfer Documents____________________________________________________ 12
Stage 5 - Completion________________________________________________________ 12
Methods of Completion__________________________________________________12
Key Steps of Code for Completion by Post__________________________________ 13
Effect of Completion____________________________________________________ 13
Stage 6 - Post - Completion___________________________________________________13
Seller’s Solicitor_______________________________________________________ 13
Buyer’s Solicitor_______________________________________________________ 13
Stamp Duty Land Tax________________________________________________________ 13
Exempt Transactions___________________________________________________ 13
1
, SQE1 UK - FLK2 2025
SDLT Reliefs__________________________________________________________ 14
Delayed Completion and Remedies____________________________________________ 14
Delayed Completion____________________________________________________ 14
Notice to Complete_____________________________________________________ 14
Other Remedies_______________________________________________________ 14
After Completion_______________________________________________________ 15
Security of Tenure for Commercial Tenants_____________________________________ 15
Landlord and Tenant Act 1954____________________________________________ 15
Section 25 Notice Grounds_______________________________________________15
Compensation for the Tenant_____________________________________________ 15
2
