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This week, the Law Society of England and Wales has updated several conveyancing forms to help buyers and sellers of leasehold flats. The aim is to cover requirements arising from the Building Safety Act 2022 (“BSA”). The BSA arose out of recommendations following the Grenfell tragedy, and is heralded by the government as implementing “ground-breaking reforms to give residents and homeowners more rights, powers, and protections – so homes across the country are safer.”
Law Society President, Lubna Shuja, said “[These] forms have been amended as part of efforts to ensure that those who want to buy or re-mortgage flats affected by building safety issues can access mortgage finance. We are happy to play our part in helping to accommodate this aim.”
The Law Society, CILEX, the Society of Licenced Conveyancers, and a number of other professional bodies are encouraging members to use the new versions of the forms with immediate effect. The forms affected are:
TA7 (Leasehold Information Form)
The TA7 is completed by the seller of a leasehold property. The form provides information on the leasehold aspects of the property, including (but not limited to):
- how and by whom the property is managed.
- details about ground rent and service charges.
- any complaints.
TA13 (Completion Information and Undertakings Form)
The TA13 includes information on:
- vacant possession.
- deeds and documents.
- bank details.
- the amount payable on completion.
- mortgages and other charges on the property.
LPE1 (Leasehold Property Enquiries Form)
The LPE1 is for gathering information held by landlords and managing agents. That includes details about ground rent, service charges and buildings insurance. The new form contains additional questions covering:
- Whether the landlord has been served with a leaseholder deed of certificate concerning the sale of the property or remedial works.
- Whether a landlord’s certificate has been served.
- Information on any outstanding enforcement action against the landlord.
The form also now contains definitions of a ‘leaseholder deed of certificate’ and ‘landlord’s certificate’. In addition, the definition of a ‘right to manage company’ has changed.
See also: The Law Society Conveyancing Protocol