Licensed Conveyancer cheat sheet

Section 2 Law of Property (Miscellaneous Provisions) Act 1989: a contract for sale of an interest in land must be in writing, incorporate all agreed terms in one document or exchange of documents, and be signed by each party; incorporation of terms by reference to another document is excluded.

Two-stage structure: exchange of contracts creates a binding contract and equitable interest; completion transfers the legal estate. Between the two, the buyer holds an equitable interest enforceable against the seller, and the seller holds the purchase money on trust.

Land Registration Act 2002 s.27: dispositions that must be registered to operate at law include transfers of registered land, leases over 7 years, and express easements created by grant or reservation. Failure to register within the priority period means the disposition takes effect only in equity.

Registered land transfer triggers a 30-business-day deadline for application to the registrar (Land Registration Act 2002 s.6, as amended); failure exposes the buyer to loss of priority and possible reversion of the legal estate to the transferor under s.7.

Unregistered land: the seller's title is deduced by producing a good root of title at least 15 years old (Law of Property Act 1969 s.23), plus epitome of title; the buyer then applies for first registration, which is compulsory on transfer of a freehold or a lease with more than 7 years unexpired.

Standard Conditions of Sale (5th edition): completion date is 20 working days from exchange unless varied; deposit is 10% of the purchase price unless varied; time is not of the essence unless expressly stated or a notice to complete has been served.

Notice to complete: after service, the party in default has 10 working days to complete; on expiry, the other party may rescind, retain the deposit, and claim damages (Standard Condition 6.8).

Searches and enquiries: Local Authority Search (LLC1 and CON29), environmental search, water and drainage search, chancel repair search, and the CON29DW. The buyer bears the risk of matters that a proper search would reveal from exchange, subject to the seller's disclosure duties.

Priority of interests in registered land: registrable dispositions take priority per the register; unregistered interests listed in Schedule 3 LRA 2002 (e.g. short leases, easements, customary rights) override registration, while other unprotected interests are postponed to a registered disposition for value.

A grant of probate is issued to executors named in a valid will; letters of administration are issued where there is no will or no executor able to act. Administration with will annexed (grant de bonis non or cum testamento annexo) applies where a will exists but the named executor cannot or will not act.

Non-contentious probate fees are fixed by the Non-Contentious Probate Fees Order 2004; the fee is currently £155 for an application by a solicitor and £215 for a personal application, with no value-based element.

Inheritance tax on the estate: IHT400 account must be delivered to HMRC before the grant is applied for, and IHT is payable six months after the end of the month of death; interest runs from that date on unpaid tax. The grant cannot issue without HMRC's receipted IHT421 or the appropriate exemption.

Executor's year: under s.44 Administration of Estates Act 1925, the personal representatives are not liable to distribute until one year after death; distribution before that date is at their own risk if a claim later emerges.

Intestacy under the Administration of Estates Act 1925 (as amended by the Inheritance and Trustees' Powers Act 2014): where there is a spouse and issue, the spouse takes personal chattels, a statutory legacy of £250,000, and a life interest in half the residue; the issue take the other half on reaching 18 or marrying.

Spouse-only intestacy: the surviving spouse takes the whole estate (subject to a possible claim by dependants). Where there are parents or siblings but no spouse or issue, the order is: parents; then brothers and sisters of the whole blood; then half-blood siblings; then grandparents; then uncles and aunts.

Administration of estates: personal representatives must pay funeral and testamentary expenses, then debts in the statutory order (secured debts, preferential debts, unsecured), then legacies, then residue. Assents of land must be in writing and registered where the land is registered.

Claims under the Inheritance (Provision for Family and Dependants) Act 1975 must be brought within six months of the grant of representation; the court may order reasonable financial provision for spouses, former spouses, children, cohabitants (after two years' residence), and dependants.

A will is revoked by marriage (Wills Act 1837 s.18) unless made in contemplation of that marriage; by a later will or codicil; or by destruction with intent to revoke. Divorce does not revoke the will but treats the former spouse as predeceasing the testator.

Probate caveats: a caveat (Form PA8A) prevents a grant issuing for six months and may be renewed; it is used where a will's validity is disputed. A citation may be issued to compel a person to propound or renounce a will.