Unit 210 Conveyancing

Level: 2

Unit reference number: J/504/0633

Credit value: 4

Guided learning hours: 23

Unit aim: The aim of this unit is to enable the learner to distinguish between real and personal property and develop an understanding of the basic procedures for buying and selling land.

There are four learning outcomes to this unit:

Outcome 1: know how to distinguish between real and personal property

The learner can:

• describe what constitutes real property
• describe what constitutes personal property
• describe the principles of co-ownership including rights of survivorship
• identify the main differences between freehold land and leasehold land.

Outcome 2: understand the purpose and process of land registration

The learner can:

• explain the purpose of land registration including benefits of registration
• describe the role of the HM Land Registry and District Registries including events that trigger registration
• describe the contents of the registers
• describe overriding interests including easements and rights of persons in actual occupation
• describe a restrictive covenant and its effect on uses of the land.

Outcome 3: understand the concept of the mortgage

The learner can:

• explain the purpose of a mortgage
• describe sources of a mortgage funding
• describe criteria used to decide whether to lend
• describe the main features of types of mortgage and interest rate packages
• describe the types of mortgage product
• describe the rights of the mortgagee and mortgagor.

Outcome 4: know the procedures for transferring land from a seller to a buyer

The learner can:

• describe the role of estate agents in the sale and purchase of property
• describe the procedure for a seller in selling a property
• describe the procedure for a buyer in purchasing a property
• describe the significance of exchange of contracts and completion.