Restrictions and Notices

Restrictions and Notices

1st Grade

10 Qs

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Restrictions and Notices

Restrictions and Notices

Assessment

Quiz

Other

1st Grade

Practice Problem

Hard

Created by

James Coupland

Used 8+ times

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10 questions

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1.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the purpose of the RXC form?

Used to add a Restriction to the Title

Provides consent or certificate to comply with a Restriction

Application to disapply or modify a Restriction

Used to register a Home Rights Notice on the property

2.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the Purpose of a Restriction on the Title?

It tells you who owns the property

Restricts what the seller is allowed to do to the property

A restriction is used to protect third party interests which restricts dispositions of land

Restricts the number of properties you can own

3.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What is the #1 reason why registrations are delayed?

Consent and Certificates required by Restrictions

Discharge of Mortgages

Discrepancy in names, variations between documents lodged

Execution of Deeds

4.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

You see this Restriction on the Title. There are two people on the Title but one has died. How would you proceed?

Need a certified Death Certificate for the deceased proprietor

An additional Trustee will need to sign the TR1

We need to add the Trustee to the Contract

We need ID and ID1 form from the Trustee no more than 3 months old

5.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

On a Sale File how would you resolve this Restriction?

The conveyancer has to certify they have received the sellers full identification before proceeding to Exchange of Contracts

The certificate required to comply with the restriction must be signed by a conveyancer in their own name in wet ink

You will also need to submit Form RXC with the certificate to the Land Registry

The certificate must state “I certify”, not “We certify”.

6.

MULTIPLE SELECT QUESTION

45 sec • 1 pt

Media Image

How would you resolve the Restriction at B3 of the Proprietorship Register?

Check the Lease to determine what Paragraph 5.11.2.1 relates to

Certificate of Compliance required for Registration

Check the LPE1 for any associated fees

Providing two people are selling this will overreach the Restriction

7.

MULTIPLE CHOICE QUESTION

30 sec • 1 pt

What form is used to Register a Restriction on the Title?

RX1

RX2

RX3

RX4

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