TC51 PROPERTY TRANSFER - IMPLICATIONS FOR PROPERTY MANAGERS

SUSPENSION OF ARMA TRAINING FOR MARCH AND APRIL 2020

After careful monitoring of the development and the spread of Covid-19 taking into account the health and safety of our members and employee’s, we at ARMA have taken the decision to suspend all training courses with immediate effect until the end of April 2020.

For those who have booked places to attend our training courses we will refund payment back to the card used at the time of booking.

New courses dates for all our training courses will be arranged in due course, and we will circulate these by the usual means which does mean that you will need to re-book to attend the training courses.

I am sure that you will also support us in this difficult decision that we at ARMA needed to prioritise the health and safety of all and minimise the spread of the virus.

Please accept our sincere apologies for any inconvenience this may cause

Should you have any further queries please contact us at training@arma.org.uk

A one day training course enabling those involved with property transfers to read leases constructively and deal confidently and safely with the process to ensure a smooth transfer of the property to the purchaser.

WHAT YOU WILL GET OUT OF IT:

• Locate and interpret the specific Lease Covenants relating to Transfers of Property, identifying the actions required by the relevant parties (e.g. Property Managers, Conveyancers, Leaseholders, etc.).
• Identify the responsibilities of the Conveyancer – Including the use of LP1 forms over Ad-Hoc information requests, etc.
• Complete an LP1 document accurately and as completely as is appropriate for the purposes of the transfer.
• Clarify and avoid the potential pitfalls associated with providing inaccurate information or prejudicial information that has not been requested.
• Identify the requirements for/compliance with: Licences to assign, Deeds of Covenant, Certificates to satisfy restrictions at the Land Registry, etc. – when and why they may be required.
• Stock transfer forms and issuing new share certificates (dealing with lost Certificates!).
• Receipting notices of transfer and / or charge.
• Ensure all charges due are accounted for and paid to the point of transfer. (This includes any remedial action that may be allowed if an account is not cleared.)
• Deal appropriately with possible year end deficits/credits as part of the conveyance process.
• Identify the key elements of effective welcome correspondence to new leaseholders.

WHO SHOULD ATTEND?

• Legal staff who need to understand the requirements of the lease in the transfer of property
• Property managers whose input is required during the property transfer
• It may also be suitable for any other members of staff who are involved in property transfer and Company Secretary duties

CLICK HERE FOR MORE INFORMATION OR TO BOOK YOUR PLACE