MISSIVES

mary1503
Mind Map by mary1503, updated more than 1 year ago
mary1503
Created by mary1503 almost 7 years ago
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Mind Map on MISSIVES, created by mary1503 on 04/11/2013.

Resource summary

MISSIVES
1 Ancient ceremony 'giving sasine' 15th century
1.1 parties & nos of witnesses
1.1.1 meet land being granted. Registration Act 1617
1.1.1.1 verbal grant handing over earth & stone
1.1.1.1.1 symbolic delivery of possession, essential to ceremony
2 Evolution
2.1 conveyancing flowed from register of sasines
2.1.1 only gained real right after prescriptive period
2.1.1.1 replaced with land registration system (county by county) Land Registration (Scotland) Act 1979
2.1.1.1.1 state guarantee to title on registration as proprietor in possession (Kaur v Singh)
3 Abolition of Fuedal Tenure, etc (Scotland) Act 2000
3.1 designed to modernise system of land ownership
3.1.1 fuedal superiorities and most attendat rights abolished
3.1.1.1 such as to collect fue duty abolished from 28/11/04
3.1.1.1.1 some rights relating to use and management of property preserved
4 Chronology of House Purchase/sale transaction
4.1 Qualified acceptance = counter offer Rutterford ltd v Allied Breweries Ltd
5 seller decides to sell, intructs estate agent/solicitor
5.1 Solicitors (Scotland) Act 1980 s5
5.1.1 provision for licensed conveyancer Law Reform (Misc Provisions) (Scotland) Act 1990
5.2 schedule of particulars drawn up and marketing strategy agreed
5.2.1 solicitor contacts existing lender & advises of potential sale, obtains title deeds& certificates
5.2.1.1 request local authority certifcates (highways, planning, building control water and drainage)
5.2.1.1.1 ensures all necessary permissions, approvals, guarantees etc obtained as house is
5.3 purchaser inspects property & decides to buy
5.3.1 consults & insturcts own solicitor
5.3.1.1 in turn intimates note of interest
5.3.1.1.1 solicitor obtains further property info incl Property Info Pack (part 3 Housing (Scotland) Act 2006
5.4 purchasers solicitor submits offer in time for closing date, with relevant suspensive clauses
5.4.1 buyer is successful & receives qualified acceptance from seller
5.4.1.1 subject to concluded missives
5.4.1.1.1 purchases applies for loan from commercial lender
5.4.2 sellers solicitor sends out titles, certificates and drafts (discharge of sellers standard security letter of obligation, matrimonial affidavits,
5.4.2.1 renunciations if any, search forms etc to purchasers solicitor. Keeps a detailed accurate diary
5.4.2.2 purchasers solicitor examines qualifications and titles on behalf of client & lender
5.4.2.2.1 carefully examines the loan instructions
5.4.2.2.1.1 confirms title and other matters are in order (descriptions, burdens, permissions, etc) & raises any queries
5.4.2.2.1.1.1 prepares purchase disposition, standard security forms
5.4.2.2.1.1.1.1 reports to lender (report on title)
5.4.2.2.1.1.1.1.1 instructs funds to be available for date of settlement
5.4.2.2.1.1.1.1.1.1 submits acceptance or further qualified acceptance deleteing the clause that is being updated
5.4.2.2.1.1.1.1.1.1.1 reports to client & revises sellers drafts and submits these with own drafts to sellers solicitor for revisal
5.4.2.2.2 sellers solicitor obtains interim report on search (update of title certificate)
5.4.2.2.2.1 and forwards to purchasers solicitor
5.4.2.2.2.1.1 sends discharge loan to clients existing lender for execution and return (held as undelivered pending redemption)
5.4.2.2.2.1.1.1 returns purchasers drafts revised
5.4.2.2.2.2 purchasers solicitor engrosses disposition & returns to sellers solicitor for execution (handed over at settlement
5.4.2.2.2.2.1 engrosses the standard security and gets client to sign
5.4.2.2.2.2.1.1 deals with any collateral security (life policies)
5.4.2.2.2.2.1.1.1 prepares matrimonial homes affidavits/consents and has signed
5.4.2.2.2.2.2 receives the banks, clients money & loan funds and arranges insurance
5.4.2.2.2.2.2.1 exchange of funds for documents (including discharge of sellers existing loan) & keys
5.4.2.2.2.2.2.1.1 Purchasers solicitor completes testing clause in disposition
5.4.2.2.2.2.2.1.1.1 thereafter sends deeds, certificates & forms to keeper of register for registration.
5.4.2.2.2.2.2.1.1.1.1 once registered new owner becomes proprietor in possession (Kaur v Singh)
5.4.2.2.2.2.2.1.1.1.2 sellers solicitor repays the loan
5.4.2.2.2.2.2.1.1.1.2.1 thereafer purchasers solicitor receives land & charge certificates
5.4.2.2.2.2.2.1.1.1.2.1.1 Standard security, land and charge certificates are deposited with lender
5.4.2.2.2.2.2.1.1.1.2.1.1.1 missives can be faxed but witnessed and signed in this way not enough
5.4.2.2.2.2.2.1.1.1.2.1.1.1.1 used as evidence of terms of formal offer but letter has not yet been delivered Thomas Park & Anor August 2009
5.4.2.2.2.2.2.1.1.1.2.1.1.1.1.1 Result: missives contain trust clause
5.4.2.2.2.2.2.1.1.1.2.1.1.1.1.1.1 sender deliver hard copy if and when required. Requirements of Writing (Scotland) Act 1995 s1(2)
6 Role of missives in purchase sale, use of suspensive conditions & warranties
6.1 Parties
6.1.1 Missives create a bindng contract and on conclusion create a bilateral obligationand express consensus in idem
6.1.1.1 Haldane v Watson
6.2 Property
6.2.1 missives expressly state parties intentions, and extent of heritable land to be conveyed
6.2.1.1 Dispostion should match missives, if don't could be neglience/solicitor or claim for unjustified enrichment, McSorley v Drennan
6.3 Price
6.3.1 price apportioned between heritable and moveable determined by rules of accession
6.3.1.1 Heritable primarliy land & everything affixed or growing from - Christie v Smiths Exr
6.3.1.1.1 Moveable includes corporeal and incorporeal with no direct connection to land Edinburgh & Leith Gas Comrs v Smart
6.4 Suspensive Conditions - creates an obligation subject to condition being purified: subject to acceptable offer of finance etc
6.4.1 Purchaser almost certainly providedpenal in missives entitlement to resile without penalty if not granted in timescale
6.4.1.1 Purchaser in breach of contract, possibly material breach, if failed to obtain permissions timeously. Khazaka v Drysdale
6.4.1.1.1 Purchaser must act reasonably not seek to resile that he dissatisfied for another reason other than suspensive condition
6.4.1.1.1.1 Gordon District Council v wimpey Homes Holding Ltd
6.4.1.1.1.1.1 Purchaser obliged reasonableness before rescinding depends on circumstances
6.4.1.1.1.1.1.1 HELD: purchaser under a duty to obtain report which justified termination before competentlyy doing so
6.4.1.1.1.1.1.1.1 McKay v Leigh Estates (Scotland) Ltd
6.4.1.1.1.1.1.1.1.1 Johnv Wyllie v Ryan Industrial Fuels Ltd - view that each party intended that the other would act reasonably
6.5 WARRANDICE
6.5.1 Sale/purchase 3 stages
6.5.1.1 1) completion of contract
6.5.1.1.1 2) Delivery of conveyanceto purchaser against payment when he takes possession
6.5.1.1.1.1 3) Registration of the conveyance in specified time Burnetts Trs v Burnett
6.5.1.2 PURCHASER
6.5.1.3 seller
6.5.1.3.1 give good and marketable title, possesson & clear search
6.5.1.3.1.1 seller unfulfils, the purchasers remedy is rescission - Whyte v Lee
6.5.1.3.1.1.1 thereafter raises an action for damages
6.5.1.3.1.1.2 Purchaser fails to pay agreed price on date, breach of missives
6.5.1.3.1.1.2.1 seller - decree for payment
6.5.1.3.1.1.2.1.1 as only positive obligation: AMA (Newton) Limited v Anthony Finlay
6.5.1.3.1.1.2.1.1.1 possible for contract to continue
6.5.1.3.1.1.2.1.1.1.1 seller seeks action for implement - Carter v Lornie
6.5.1.3.1.1.2.1.1.1.1.1 Irrespective of completion but late, seller can seek damages
6.5.1.3.1.1.2.1.1.1.1.1.1 can also seek interest under common law and contract
6.6 WARRANTIES
6.6.1 contained throughout the missives
6.6.1.1 both heritable/moveable free of finance
6.6.1.1.1 not subject to litigation
6.6.1.1.1.1 and are free from defects
7 property conveyance is a personal guarantee between the parties
8 seller can only sell if he has good and marketable title
8.1 free of any inhibitions
9 purchaser agrees to pay price on set date
9.1 Disposition is registered in Land register Land Registration (Scotland) Act 1979
9.1.1 once issued guarantees title but can be challenged in limited circumstances
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