TMCP have been developing a streamlining process for purchase transactions and this new process is now ready for Managing Trustees to follow when you instruct one of the panel solicitors firms to assist you.
| For details of the five Panel Firms, please refer to the Panel Solicitor page on our website. |
This new streamlined process has been developed to equip you as Managing Trustees to fulfil the charity law and Methodist requirements on a purchase as quickly and efficiently as possible with the support of TMCP and your chosen Panel Firm. TMCP has sought to identify who needs to know what at each stage to make a purchase transaction run as smoothly as possible.
We have identified seven key stages to the purchase of Model Trust property and has formulated the streamlining process around these stages. The process includes an initial “check-in” with Managing Trustees at the start of the process and important milestones in the purchase, such as the critical conveyancing stage up to the point of exchange, where contact between your professional advisers is paramount. .
Please refer to the Purchase Streamlining Flowchart for details of the seven stages and the steps to be taken by Managing Trustees, TMCP and the Managing Trustees’ professional advisers at each stage of the transaction.
Accompanying guidance and the Check-In Checklist is now available on our website. We will provide additional specific guidance at your check-in. We also invite Managing Trustees who have just started looking for a property (Stage 1 of the process) to ask for an initial telephone call to go over your purchase if this would be helpful, particularly if it is your first streamlined purchase or if there is anything about the transaction that you want to discuss before you find a property and have your check-in meeting.
Please keep an eye on further announcements about training for Managing Trustees.
If you have any queries in relation to the guidance in this document please contact TMCP Legal for further assistance.