Chapter 13 Multiple choice questions

. You act for Montague King who has instructed you to complete the purchase for him of a registered freehold bungalow in Lytham St. Annes, Lancashire. It is owned by Dolores McFadden and is presently subject to her first charge with the Megalopolis Bank Plc. Which of the following might you expect to receive in exchange for the purchase monies? Please select the choice not available at completion

The keys

Form DS1

The charge certificate

The transfer duly signed and dated

None of the selections apply

. At completion where there is a sale of part out of a larger unregistered title, a memorandum of sale should be endorsed on the last deed in the title retained by the seller.
Is this statement true or false?

True

False

. You act for Winston Douglas, the seller of a luxury flat in Clapham South London. Contracts have been exchanged using the fifth edition of the Standard Conditions of sale unaltered and completion is due today. The buyer wishes to complete personally and to hand over the purchase monies by banker's draft. What should you do?

Complete.

Complete but hold the deeds until the draft is paid into your bank.

Complete at your bank to facilitate payment of the draft.

Refuse to complete.

Quiz Content