Paper Forms Editorial

Range: Conveyancing - Law Society

Sale of Commonhold Properties Form

The commonhold provisions contained in the Commonhold and Leasehold Reform Act 2002 came into force on 27th September 2004. 
 
The Law Society has now produced a new TransAction form, Prop 8, to cater for conveyancing which involves the sale of commonhold properties. 
 
Part I of Prop 8 requires the seller to provide certain information about the commonhold association, its accounts, reserve fund levies, notices, common parts and other detailed information such as insurance and any rights for the developer. Part II of the form requires the solicitor to verify the information provided by the seller. 
 
The Law Society intends to insert an article in the Law Society’s Gazette either in March or April which will explain the background to the use of this new form.  
 
THE LAW SOCIETY HAS REQUESTED THAT PROP 8 SHOULD NOT BE PUBLISHED BEFORE 29TH APRIL.

List of forms affected