LPE1 Form- A Comprehensive Guide
The LPE 1 Form, also known as Leasehold Property Enquiries Form 1, is a mandatory legal document in the conveyancing process that contains information provided by landlords and managing parties. It includes important information such as contact details, transfer and registration, ground rent, service charges, building insurance, disputes & enfranchisement. QualitySolicitor’s property solicitors can help you with all requirements of the LPE 1 Form, including completing the form and completing all the necessary documents about the leasehold property.
What is an LPE1 Form?
LPE1 Form is a legal document required by solicitors during the conveyancing process. This document contains all the information that is required about the leasehold property. The primary purpose of the LPE1 form is to provide important information about a property being sold.
LPE1 Form also helps to identify any issues in the property before the sale because it requires the seller to disclose all property information.
What Information Does the LPE1 Form Contain?
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Contact and property details:The contact details section includes the landlord's, management company's, managing agents', and tenants' contact information. Property detail also includes information about the property address, ground rent, property tenure, landlord's certificate, landlord detail, and other relevant information.
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Transfer and registration: This section contains information about the registration deed, cost, and licence. As well as the specific requirements of any references.
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Building Plan: This includes any building regulations, plans, or other relevant approvals needed before making changes or performing work on leasehold properties. It could also include information on management agents and representative bodies.
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Boundaries and any disagreements: This section covers the boundaries of properties, including any shared areas and boundary agreements between management and landlord, as well as any ongoing property proceedings or unresolved past issues.
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Utilities or building insurance: This section covers building insurance, premiums, arrears, property claims, and any corrective action. This section also discusses the details of the council tax, water bill, electricity bill, and gas bill.
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Required Documents: This section includes required documents such as three years of published service charge accounts, building insurance and schedule, service charge, a copy of any notices served, certificate of compliance, and deed of covenant.
In addition, Building Safety Act 2022 provides a complete framework and reforms to the residents and homeowners. It protects the rights and safety of all parties.
Can the information on the LPE1 Form be updated?
Yes, if any changes occur during the conveyancing process, you need a conveyancing solicitor to update the LPE1 form accordingly.
Feel free to contact us to discuss your Leasehold property or LPE1 form.