A streamlining process (Streamlining Process) has been introduced by TMCP to reduce the time that is spent on simple property transactions where one of the firms on the Methodist Panel of solicitors (Panel Firm) has been instructed by Managing Trustees. This Streamlining Process is now in use for simple sales, such as sales of Manses and most church buildings, but will be rolled out for other transactions in time.
To benefit from the advantages of the Streamlining Process, Managing Trustees must instruct one of the Panel Firms to assist them unless the property is located in Scotland, the Isle of Man or the Channel Islands where a hybrid process will be used.
Key features of the Streamlining Process
- Identify issues early
- Managing Trustees are encouraged to contact TMCP early for guidance.
Managing Trustees should contact TMCP once the decision to sell has been made in conjunction with the Circuit and District after consideration of the Strategic Guidance for Property in Mission but before:
The Streamlining Process includes “check-ins" which are conversations between the Managing Trustees and the legal officer/case worker dealing with your transaction at TMCP. These “check-ins” aim to help Managing Trustees to identify and deal with any issues at a much earlier stage and then to provide all the information the qualified surveyor and Panel Firm need to advise Managing Trustees on a transaction.
On a sale transaction the first Check-In takes place at Stage 1 (see “How does the Streamlining Process work for sales?”) before a surveyor is instructed and the second Check-In takes place at Stage 3 once a buyer is found, but before the Panel Firm is instructed to start the conveyancing process (Stage 4).
- Reliance on Panel Firms
The Streamlining Process relies on the expertise of the Panel Firms reducing the need for TMCP to be involved at the time critical stages of a transaction which take place once a buyer has been found. This part of the Streamlining Process relies on:
- The Panel Firms’ experience and training in acting for Methodist Managing Trustees;
- The Template documents that have already been drafted and pre-approved by TMCP;
- “Exception reports” designed to streamline reporting between the Panel Firms and TMCP.
How does the Streamlining Process work for sales?
TMCP has broken a simple sale transaction into six stages and have identified who needs to know what and at which stage, in order to make a transaction run as smoothly as possible.
The six stages are:
The initial information gathering stage including a “Check-In” meeting with TMCP before the surveyor prepares their Qualified Surveyor’s Report (QSR).
|Stage 2||Marketing|| |
This is when Managing Trustees market the property in accordance with the advice of their qualified surveyor in the Qualified Surveyor’s Report (QSR) approved by TMCP at Stage 1.
|Stage 3||Offer Accepted|| |
This is when a buyer has been found and the best price and adequate marketing certificate prepared. Check-In Two takes place now.
|Stage 4||Conveyancing|| |
The time critical conveyancing process when TMCP will rely on the expertise of your chosen Panel Firm.
|Stage 5||Exchange of contracts|| |
This is the point at which the parties become contractually bound to the sale and can only happen when all of the charity law and Methodist law and policy requirements have been met.
|Stage 6||Completion|| |
The property is legally transferred to the buyer and the net sale proceeds are placed in the appropriate Model Trust fund after payment of the Connexional Priority Fund levy.
The Summary Flow Chart provides an at a glance guide showing the six stages of the new process, the key steps for Managing Trustees to take and when and how TMCP and your professional advisors will assist throughout the process.
Streamlining Process resources
Resources have been developed to assist Managing Trustees in following the Streamlining Process (Streamlining Process Sales Toolkit). TMCP will provide links to and prompt use of the appropriate resources as Managing Trustees work their way through the Streamlining Process. The resources in the Streamlining Process Sales Toolkit are available using the resources tab from this page and are listed below:
- Summary Flow Chart
- Check-In One Checklist Information Focus Note
- Check-In One Checklist
- Template QSR
- Template QSR Instruction Letter
- Sales Questionnaire Information Focus Note
- Sales Questionnaire
- Identity Questionnaire
The Panel Firms already have access to the pre-approved sales template documents. These are not available on TMCP's website.
Where can we find more guidance on sales?
The guidance on this Streamlining Page focuses on the Streamlining Process and steps that have been put in place to streamline sales transactions. For general sales guidance please refer to:
- Sales page;
- Sales Guidance Note for Managing Trustees;
- Sales Checklist
- Sale Guidance for Solicitors
- Sale FAQs
- Streamlining Sales Focus Note – Read the general sales guidance together with this Focus Note to understand where the usual sales requirements fit into the Streamlining Process.
Where to find more help on the Streamlining Process
We arranged training sessions to help Managing Trustees find their way around the Streamlining Process. A recording of the training and the slides are available here:
- Video - Streamlining Process Training for Managing Trustees
- Slides - Streamlining Process Training for Managing Trustees
If you were unable to join us for one of the training session and/or would like one of the TMCP Legal team to go through the main points with you, please contact TMCP Legal.
Please feel free to contact TMCP Legal if you would like any further guidance on the Streamlining Process.