Why does my Conveyancing Solicitor need ID?
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Your solicitor is required by law to identify you (Money Laundering Regulations)
Form TA7 (Leasehold Information Form) is part of the standard conveyancing protocol used by conveyancing solicitors and conveyancers in England & Wales. It relates only to Leasehold properties and is in addition to the other forms that would be included in any event (with a freehold property. The TA7 is part of the CONTRACT PACK where the seller’s solicitor will also provide:-
- DRAFT CONTRACT
- TA6 – Seller’s Property Information Form
- TA10 – Fittings & Contents Form
- HM Land Registry entry – a copy of the title register for the property
What is the Conveyancing Protocol?
The Conveyancing Protocol is set by the Law Society and is aimed at:-
- Standardising the conveyancing process
- Making conveyancing more transparent and efficient
- Improving the experience for buyers/sellers, as well as solicitors and lenders
What is the difference between a Leasehold & Freehold Property?
Every property has a ‘freehold title’ (even those that also have a lease title).
In simple terms, freehold properties tend to be ‘standalone’ without common parts, and critically without shared costs. Typically, this would include normal ‘houses’. As the freeholder you own the property outright in law in every sense.
To confuse things slightly, there will still be a freeholder/freeholders where you own your property under a leasehold title. The reason for also needing a leasehold title is normally that there are common parts which need to be maintained and serviced by someone (or an organisation) – for example with apartments. So, each flat owner has a leasehold title, all of which are held under the freehold title.
How long will a leasehold title be for?
You would ordinarily expect a residential lease to be granted for 100 years plus.
Who looks after the common parts of a Leasehold property?
There will be a ‘management company’ for most leasehold properties who will be responsible for the maintenance and repair of the exterior of the property, and common parts. As a leaseholder you can expect to pay a service charge and sinking fund payment to the management company.
What is the point of a TA7?
The point of a TA7 (and indeed the other forms and documents contained within the contract pack) is to illustrate to the buyer what they are buying – what they are letting themselves in for.
Leasehold properties will in particular have obligations to and from other residents, and critically buyers will likely want to know about historical and ongoing service charges and repair costs. A significant example of where unexpected Leasehold costs can occur is following the tragic events around the Grenfell Tower fires. This has spurned huge numbers of leaseholders finding themselves liable for unexpected repair/maintenance/repair costs to their own buildings.
How do I complete Form TA7?
So, Form TA7 is designed to ensure that the Leaseholder (the seller) provide the buyer (via the buyers conveyancer) with all of the information they need in relation to the lease and the associated management of the property. The TA7 is split into the following sections:-
- The Property – type (eg flat); is there an annual rent
- Ownership and Management – who are the owners and who manages the property
- Relevant Documents – eg lease; managing agent correspondence; insurance;
- Contact Details – of freeholder and managing agents
- Maintenance & Service Charges – details around work done and due to be done
- Notices – about selling or improving/maintaining the property
- Consents – regarding changes to leases
- Complaints – between or about freeholder, management company or neighbour(s)
- Alterations – since the lease was granted
- Enfranchisement – the right of a tenant to buy the freehold
- Building safety, cladding, and the leaseholder deed of certificate
What if I complete Form TA7 incorrectly?
As the seller of a leasehold property you must complete all seller’s property information forms (TA6, TA7 & TA10) honestly and to the best of your knowledge. If you were to deliberately mislead your buyer you can be held liable should the buyer suffer future loss as a result of that misleading information or statement.
Download TA7 Leasehold Information Form
> Download the TA7 Leasehold Information Form.
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