Molly Bloom – Trainee Blog
November has been a busy month for me in the Property department. I have had various drafting and research exercises across the full department. Drafting exercises have included underleases, replies to requisition, TR1s, UT1 for the upgrade of title, statements of truth, client letters and a licence to assign. The research tasks have revolved around aspects such as SDLT payable on second properties, SDLT payable on the purchase of leasehold properties and the registration of car parking rights. I have also submitted local searches.
I have been lucky to see the progression of a purchase of a development site. With this I have been reviewing documents such as collateral warranties, drafting rent authority letters and learning about the structure of concurrent leases.
I have been faced with a wider range of tasks in October in the Property Department. Much of my work has included drafting exercises, including a Licence to Assign, a Licence for Alterations, a contract for sale of a property subject to a lease and a tenancy and drafting lease reports. I have also drafted a TP1 form and had to consider the different covenants required. I have received useful feedback on these drafting exercises which I will be able to use in the upcoming months in the Property Department.
I have also spent some time drafting SDLT returns and calculating the SDLT due on different transactions. I spent some time researching this topic and watching a webinar on the different reliefs which could potentially be available in certain situations, as this is useful knowledge to have when dealing with property transactions.
Rollits had a ‘Wear It Pink’ day in October in support of the Breast Cancer Now Charity. A raffle was held and together we raised £240.
I am coming to the end of my first month in the Property department and have already been given various tasks to complete. I have been assisting with a First Registration of land applications. This was a compulsory first registration since the ownership of the land was being transferred. The process of registering the land required me to draft different forms, including a First Registration, draft a document list, conduct a search of the index map and land charges searches. It was useful to see the process of a First Registration of land in practice after briefly studying it at University.
I have also carried out various research tasks regarding areas such as SDLT, the availability of Multiple Dwelling Relief and the required address for service of a notice to exclude the security of tenure provisions of LTA 1954. I have received useful feedback from these exercises to help me to improve my researching and drafting skills further in the future.
I have also attended a lunch and learn session on capital allowances and I am looking forward to the Employee Forum event at the end of the month, involving pizza at the office and a crazy golf competition to spend time with colleagues outside of the work environment.