Chapter 7 Multiple Choice Questions

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In relation to registered title, primarily which of the following governs the contents of the purchase deed?

The instructions of the clients. correct incorrect

The official copies of the seller's title. correct incorrect

The correspondence between buyer's and seller's solicitors. correct incorrect

The contract. correct incorrect

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Your client has decided to take a fixed rate mortgage with Barclays Bank plc. The interest rate is fixed for three years and there is an early redemption penalty. When advising your client on the contents of the mortgage deed, which of the following would you generally NOT include in your advice?

That if the client repays the mortgage within the first three years the lender can charge an interest penalty. correct incorrect

That the lender has the right to call in the loan and sell the property if the borrower defaults on the mortgage. correct incorrect

That your client will be unable to let the premises without the lender's prior consent. correct incorrect

That the initial rate of interest and monthly payments may be varied by the lender at any time. correct incorrect

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A transfer of part of registered land contains new restrictive covenants on the part of the buyer and the grant and reservation of new easements in favour of the buyer and seller respectively. Which of the following persons should execute the transfer deed?

Both the seller and the buyer. correct incorrect

The seller alone. correct incorrect

The buyer alone. correct incorrect

The seller, the buyer and the buyer's mortgagee. correct incorrect

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