PROPERTY LAW EXAM 2025 WITH 100%
ACCURATE SOLUTIONS
Can a solicitor act for both the buyer and the lender? - ✅✅✅CORRECT -yes, provided the property is
good and marketable, and value of the property is not jeopardised by any matters affecting the property
co-ownership - ✅✅✅CORRECT -where a property is owned by more than one owner
how is legal title held by co-owners? - ✅✅✅CORRECT -always held as joint tenants
how is beneficial title held by co-owners? - ✅✅✅CORRECT -can be held as joint tenants or tenants in
common
how can you identify tenants in common? - ✅✅✅CORRECT -a restriction will be added to the
proprietorship register
what must a solicitor ensure when acting for the buyer? - ✅✅✅CORRECT -seller has the right to sell
the property; physical condition of the land is adequate for the buyer's need, and is worth the money; all
the rights the property enjoys; any third party rights affecting the property; property is free from any
security interest or will be on completion' contract reflects terms agreed between parties; sufficient
funds to finance the purchase
lender's aims - ✅✅✅CORRECT -knowing the property is marketable, and the value is sufficient to
cover any losses
what must a solicitor ensure when acting for the seller? - ✅✅✅CORRECT -contract reflects the terms
agreed between parties' provide the buyer's solicitor with what they need to proceed with purchase; tie
timing of the sale to any related purchase; transfer legal ownership and responsibility to buyer; collect
money from sale, repay mortgage, and account to seller for the balance
where does most of the work for the solicitor occur? - ✅✅✅CORRECT -pre-contract until the
exchange stage
,seller responsibilities pre-contract - ✅✅✅CORRECT -deduces title; answers pre-contract enquiries;
prepare draft contract
buyer responsibilities pre-contract - ✅✅✅CORRECT -investigate title; pre-contract searches; pre-
contract enquiries; report on title; the buyer's mortgage; approve draft contract
at what stage do parties become contractually bound? - ✅✅✅CORRECT -exchange
seller responsibilities pre-completion - ✅✅✅CORRECT -draft/approve transfer deed (TR1); reply to
completion information; prepare for completion
buyer responsibilities pre-completion - ✅✅✅CORRECT -draft/approve transfer deed (TR1); request
completion information; pre-completion searches; prepare for completion
seller responsibilities post-completion - ✅✅✅CORRECT -send the completed TR1 and any discharged
mortgage to the buyer
buyer responsibilities post-completion - ✅✅✅CORRECT -SDLT/LTT; Companies House application to
register mortgage (if buyer a company); land registry application
Caveat emptor - ✅✅✅CORRECT -a buyer takes the property as they find it - they can withdraw at
any point up to exchange, but cannot withdraw subsequently if they find a problem with the property
(buyer beware)
is a seller under any obligation to give the buyer all the relevant information they may require? -
✅✅✅CORRECT -no, it is the buyer's solicitor's job to investigate as thoroughly as possible
where does information about the property come from? - ✅✅✅CORRECT -the title to the property;
the seller's replied to enquiries; searches; survey of property
exceptions to caveat emptor - ✅✅✅CORRECT -misrepresentations; and latent encumbrances and
title defects
,misrepresentation - ✅✅✅CORRECT -a false statement which induces a buyer to contract to buy -
seller cannot mislead the buyer by concealing physical defects or answering questions dishonestly
remedies for misrepresentation - ✅✅✅CORRECT -common law remedies for misdescription
latent encumbrance - ✅✅✅CORRECT -something which is not apparent, or cannot be discovered,
when inspecting the property (seller must disclose)
defect in title - ✅✅✅CORRECT -matter that brings into question the seller's ownership of the
property, or the rights and burden that affect the property (seller must disclose)
what should the solicitor discuss when taking instruction from a client? - ✅✅✅CORRECT -likely
timescale and costs; co-ownership; surveys; tax
stamp duty land tax - ✅✅✅CORRECT -buyer must pay if buys property or land over a certain price in
England and Northern Ireland, threshold differs for residential and commercial properties
land transaction tax - ✅✅✅CORRECT -payable on property or land in Wales if sale completed after 1
April 2018
capital gains tax - ✅✅✅CORRECT -tax on the profit when you sell certain assets that have increased
in value, the gain you make is taxed not the amount of money received (not payable on most residential
sales due to exemption of private residence relief (PRR))
value added tax - ✅✅✅CORRECT -added to the price of certain goods and services, not usually
applicable to existing residential properties, however sometimes buyer must pay VAT in sale price to the
seller
how are residential purchases usually funded? - ✅✅✅CORRECT -from client's own resources;
proceeds of any related sale; a mortgage loan
, how are commercial purchases usually funded? - ✅✅✅CORRECT -from equity finance; group of
lenders through a syndicate; lender may fund a development
capital repayment mortgage - ✅✅✅CORRECT -borrower repays capital sum by monthly payments,
together with an interest amount added each month
interest only mortgage - ✅✅✅CORRECT -borrower only pays interest on the loan, capital will
generally only be repaid by sale of the property, although hopefully for borrower they may have equity if
property has increased in value
endowment mortgage - ✅✅✅CORRECT -(generally no longer available in UK) interest only
mortgages topped up with a payment that is invested in an endowment policy, with the idea that the
policy repays the capital at the end of the term
when did land registration become compulsory? - ✅✅✅CORRECT -from 1 December 1990
how does a seller deduce title? - ✅✅✅CORRECT -seller's solicitor gets title documents, checks to
ensure seller entitled to sell property, sends them to buyer's solicitor:
property register - ✅✅✅CORRECT -describes property and any rights benefiting property
proprietorship register - ✅✅✅CORRECT -gives the registered proprietor's name and address, class of
title, and entries affecting ownership
charges register - ✅✅✅CORRECT -lists rights burdening the property
how does a buyer investigate title? - ✅✅✅CORRECT -aims to check seller has the legal right to sell
property, ensures property is adequate for buyer's intended use, ensures there are no title defects that
could affect the value of property or ability to sell in future
what must be considered when a property has the benefit of a right of way? - ✅✅✅CORRECT -
registration of the burden; adequacy; maintenance; adoption
ACCURATE SOLUTIONS
Can a solicitor act for both the buyer and the lender? - ✅✅✅CORRECT -yes, provided the property is
good and marketable, and value of the property is not jeopardised by any matters affecting the property
co-ownership - ✅✅✅CORRECT -where a property is owned by more than one owner
how is legal title held by co-owners? - ✅✅✅CORRECT -always held as joint tenants
how is beneficial title held by co-owners? - ✅✅✅CORRECT -can be held as joint tenants or tenants in
common
how can you identify tenants in common? - ✅✅✅CORRECT -a restriction will be added to the
proprietorship register
what must a solicitor ensure when acting for the buyer? - ✅✅✅CORRECT -seller has the right to sell
the property; physical condition of the land is adequate for the buyer's need, and is worth the money; all
the rights the property enjoys; any third party rights affecting the property; property is free from any
security interest or will be on completion' contract reflects terms agreed between parties; sufficient
funds to finance the purchase
lender's aims - ✅✅✅CORRECT -knowing the property is marketable, and the value is sufficient to
cover any losses
what must a solicitor ensure when acting for the seller? - ✅✅✅CORRECT -contract reflects the terms
agreed between parties' provide the buyer's solicitor with what they need to proceed with purchase; tie
timing of the sale to any related purchase; transfer legal ownership and responsibility to buyer; collect
money from sale, repay mortgage, and account to seller for the balance
where does most of the work for the solicitor occur? - ✅✅✅CORRECT -pre-contract until the
exchange stage
,seller responsibilities pre-contract - ✅✅✅CORRECT -deduces title; answers pre-contract enquiries;
prepare draft contract
buyer responsibilities pre-contract - ✅✅✅CORRECT -investigate title; pre-contract searches; pre-
contract enquiries; report on title; the buyer's mortgage; approve draft contract
at what stage do parties become contractually bound? - ✅✅✅CORRECT -exchange
seller responsibilities pre-completion - ✅✅✅CORRECT -draft/approve transfer deed (TR1); reply to
completion information; prepare for completion
buyer responsibilities pre-completion - ✅✅✅CORRECT -draft/approve transfer deed (TR1); request
completion information; pre-completion searches; prepare for completion
seller responsibilities post-completion - ✅✅✅CORRECT -send the completed TR1 and any discharged
mortgage to the buyer
buyer responsibilities post-completion - ✅✅✅CORRECT -SDLT/LTT; Companies House application to
register mortgage (if buyer a company); land registry application
Caveat emptor - ✅✅✅CORRECT -a buyer takes the property as they find it - they can withdraw at
any point up to exchange, but cannot withdraw subsequently if they find a problem with the property
(buyer beware)
is a seller under any obligation to give the buyer all the relevant information they may require? -
✅✅✅CORRECT -no, it is the buyer's solicitor's job to investigate as thoroughly as possible
where does information about the property come from? - ✅✅✅CORRECT -the title to the property;
the seller's replied to enquiries; searches; survey of property
exceptions to caveat emptor - ✅✅✅CORRECT -misrepresentations; and latent encumbrances and
title defects
,misrepresentation - ✅✅✅CORRECT -a false statement which induces a buyer to contract to buy -
seller cannot mislead the buyer by concealing physical defects or answering questions dishonestly
remedies for misrepresentation - ✅✅✅CORRECT -common law remedies for misdescription
latent encumbrance - ✅✅✅CORRECT -something which is not apparent, or cannot be discovered,
when inspecting the property (seller must disclose)
defect in title - ✅✅✅CORRECT -matter that brings into question the seller's ownership of the
property, or the rights and burden that affect the property (seller must disclose)
what should the solicitor discuss when taking instruction from a client? - ✅✅✅CORRECT -likely
timescale and costs; co-ownership; surveys; tax
stamp duty land tax - ✅✅✅CORRECT -buyer must pay if buys property or land over a certain price in
England and Northern Ireland, threshold differs for residential and commercial properties
land transaction tax - ✅✅✅CORRECT -payable on property or land in Wales if sale completed after 1
April 2018
capital gains tax - ✅✅✅CORRECT -tax on the profit when you sell certain assets that have increased
in value, the gain you make is taxed not the amount of money received (not payable on most residential
sales due to exemption of private residence relief (PRR))
value added tax - ✅✅✅CORRECT -added to the price of certain goods and services, not usually
applicable to existing residential properties, however sometimes buyer must pay VAT in sale price to the
seller
how are residential purchases usually funded? - ✅✅✅CORRECT -from client's own resources;
proceeds of any related sale; a mortgage loan
, how are commercial purchases usually funded? - ✅✅✅CORRECT -from equity finance; group of
lenders through a syndicate; lender may fund a development
capital repayment mortgage - ✅✅✅CORRECT -borrower repays capital sum by monthly payments,
together with an interest amount added each month
interest only mortgage - ✅✅✅CORRECT -borrower only pays interest on the loan, capital will
generally only be repaid by sale of the property, although hopefully for borrower they may have equity if
property has increased in value
endowment mortgage - ✅✅✅CORRECT -(generally no longer available in UK) interest only
mortgages topped up with a payment that is invested in an endowment policy, with the idea that the
policy repays the capital at the end of the term
when did land registration become compulsory? - ✅✅✅CORRECT -from 1 December 1990
how does a seller deduce title? - ✅✅✅CORRECT -seller's solicitor gets title documents, checks to
ensure seller entitled to sell property, sends them to buyer's solicitor:
property register - ✅✅✅CORRECT -describes property and any rights benefiting property
proprietorship register - ✅✅✅CORRECT -gives the registered proprietor's name and address, class of
title, and entries affecting ownership
charges register - ✅✅✅CORRECT -lists rights burdening the property
how does a buyer investigate title? - ✅✅✅CORRECT -aims to check seller has the legal right to sell
property, ensures property is adequate for buyer's intended use, ensures there are no title defects that
could affect the value of property or ability to sell in future
what must be considered when a property has the benefit of a right of way? - ✅✅✅CORRECT -
registration of the burden; adequacy; maintenance; adoption
