Chapter 12 Problem questions and answer guidance

Pre-completion procedures

Your clients, The Ashbourne Business Parks Company Limited and Winston Odinga, are purchasing together as a joint venture from Ramesh Singh part of his new office and shop development being 1 to 16 (out of the whole development number 1 to 32) The Central Street in Skipton, Yorkshire for £975,000. They are buying with the aid of a proposed first mortgage of £750,000 from the North Riding Bank Plc for whom you are also acting. The title number is NYK 362638. Contracts were exchanged two weeks ago and completion is due in two weeks’ time.

a) Please list the pre-completion searches you would arrange and explain your reasons for doing so.

b) What would change if your client were purchasing an unregistered property and why?

c) Would your answer be different if the seller was a limited company?

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