LPC Real Estate 1

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  • Created by: James80pk
  • Created on: 07-03-18 16:04

1. Notice to Complete: When may a party who is ready able and willing to complete issue a notice to complete?

  • Only after completion date
  • Any time on or after completion date
  • Before completion date
  • 10 days after completion date
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Other questions in this quiz

2. What does 'time is not of the essence' mean in relation to the status of the completion date?

  • The stipulation as to time merely has the status of a contractual warrenty and not a condition, and the delay would not itself entitle the guilty party to withdraw from the contract at that stage
  • The stipulation as to time merely has the status of a contractual warrenty and not a condition, but the delay would entitle the innocent party to withdraw from the contract at that stage
  • The stipulation as to time merely has the status of a contractual warrenty and not a condition, and the delay would not itself entitle the innocent party to withdraw from the contract at that stage
  • The stipulation as to time merely has the status of a condition, and the delay would entitle the innocent party to withdraw from the contract at that stage

3. Who signs the Stamp Duty Land Tax Form?

  • Buyer
  • Buyer's solicitor
  • Seller
  • Seller's solicitor

4. What must happen under Formula B if either part of the contract has been amended since it was originally prepared?

  • The solicitor who holds the part contract with the amendments must disclose them, so that it can be confirmed that the other part is not amended
  • The solicitor who holds the part contract without the amendments must disclose them, so that it can be confirmed that the other part is similarly amended
  • The solicitor who holds the part contract with the amendments must disclose them, so that it can be confirmed that the other part is similarly amended
  • The solicitor who holds the part contract with the amendments must not disclose them

5. What Form is submitted for each SDLT transaction?

  • Form AP1
  • Form DR1
  • Form SDLT1
  • Form TR1

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