SQE2 Property Law Practice 3

Question 1

The Land Registration Act 2002 introduced which concept to replace adverse possession for registered land?

Accepted Answer

Adverse possession through notification scheme (Schedule 6)

Answer

Schedule 6 LRA 2002 created a new adverse possession regime for registered land requiring 10 years' possession, application to the Land Registry and notification to the registered owner who may then object.

Question 2

A solicitor acting for a buyer who discovers the property is subject to an unregistered second mortgage must:

Accepted Answer

Advise the client and lender and investigate whether the charge will be discharged on completion

Answer

An unregistered incumbrance discovered during investigation of title must be reported to the buyer and lender; steps must be taken to ensure the charge is redeemed or properly dealt with at completion.

Question 3

In commercial leases, a tenant's right to renew a business tenancy is provided by:

Accepted Answer

Part II of the Landlord and Tenant Act 1954

Answer

Part II LTA 1954 grants business tenants a statutory right to renew their tenancy on termination; landlords can only oppose renewal on specified statutory grounds.

Question 4

The effect of a notice to complete served after a purchaser fails to complete on the contractual date is that:

Accepted Answer

Time becomes of the essence and the innocent party may rescind if the other defaults within the notice period

Answer

A notice to complete under the Standard Conditions of Sale (or SCPC) makes time of the essence; if the defaulting party fails to complete within 10 working days, the innocent party may rescind and forfeit the deposit.

Question 5

Which body regulates estate agents in England & Wales and requires them to belong to a redress scheme?

Accepted Answer

National Trading Standards Estate & Letting Agency Team (NTSELAT)

Answer

NTSELAT is the national body that enforces the Estate Agents Act 1979 and requires estate agents to belong to an approved redress scheme, with powers to ban agents from the industry.

SQE2 Practice Test

SQE2 Practice Test

SQE2 Property Law Practice 3