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FLK2 EXAM QUESTIONS AND 100% CORRECT ANSWERS (A+)
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FLK2 EXAM QUESTIONS AND 100% CORRECT ANSWERS (A+)What form do you use to lodge a caveat? - ANSWER PA8A or you can lodge one online
Can the legal estate in land which is held as joint tenants be severed? - ANSWER No
How can a joint tenant sever his or her interest in equity? - ANSWER It must be in writing
and there must be mutual agreement between the other parties
What is the effect of a self help clause? - ANSWER the landlord can enter the property to
undertake the repairs. the repairs can be recovered as a debt from the tenant.
When can a trustee retire without being replaced? - ANSWER where two trustees or a
trust corporation are left.
When would you make a proprietary claim against as trustee? - ANSWER When they
hold trust property
Can an innocent volunteer face an equitable proprietary claim? - ANSWER Yes
How might beneficiaries bring a trust to an end? - ANSWER By calling for a transfer of
trust property to themselves, if all the beneficiaries under the trust who could possibly
become entitled are in existence and ascertained, are aged 18 or over, are of sound
mind and agree.
When would the court decide to exclude evidence when there has been a breach of
Code D of PACE? - ANSWER if its admission would have an adverse effect on the
fairness of the proceedings
,When can a proprietary claim not be bought against someone holding trust property? -
ANSWER If they are a bona fide purchaser for value without notice
What is the limitation period for prosecuting a failure to obtain building regulation
approvals or certificates? - ANSWER 10 Years
What search would identify whether local people have common rights over the land? -
ANSWER Optional Enquiries of Local Authority (CON29O)
What do you need to prove to bring a personal claim against a third party who has
received appropriated trust property - ANSWER You have to prove that they received
the trust property in breach of trust for their own benefit and their knowledge of the
facts made it unconscionable for them to have dealt with the property as they did.
What would a person be entitled to under a resulting trust over a property. - ANSWER A
share based proportionately on their financial contribution to the deposit and any initial
mortgage payments at the time of the purchase
When does a resulting trust arise over land? - ANSWER When one party contributes to
the purchase price
When does the Criminal Justice Act 2003 allow previous convictions to be admitted? -
ANSWER When they are relevant and not so old as to have become irrelevant
When can a gift of shares qualify for business property relief? - ANSWER The shares
must be owned for at least 2 years before death and the company must be a trading
company but if the shares are in a company listed on a recognised stock exchange, the
owner must have had voting control of the company.
What are the implications of being an exempt supplier? - ANSWER the company cannot
register for VAT, and cannot recover the input VAT which it pays on its purchases
In what circumstances may a judge give a binding indication of sentence? - ANSWER
, Where the defendant specifically requests it
Is precatory wording enough to constitute a trust? - ANSWER No, it will fail for lack of
certainty of intention
What is the consequence of serving a notice to complete under the SCPCs? - ANSWER
The party in default now has 10 working days to complete the sale.
Where do restrictive covenants appear on the Title Register? - ANSWER Charges
register
Is self defence available even though one has made a mistake because one is
intoxicated? - ANSWER No
When a trustee is in breach of the self-dealing rule, what can a beneficiary do? -
ANSWER The beneficiary can render the transaction voidable within a reasonable time
What is an equitable lease? - ANSWER It is an agreement for land similar to a legal lease
but failing the formal requirements of a legal lease.
What documents must trustees provide beneficiaries on request? - ANSWER copies of
the trust deed, trust accounts and schedule of trust investments.
When does the 1954 Act apply? - ANSWER it applies to any tenancy of that length where
the property comprised in the tenancy is occupied by the tenant for the purposes of a
business carried on by the tenant and which has not been contracted out of the 1954
Act
Where do interests benefit a registered title appear on the title register? - ANSWER
Property register
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