Do you own property or land that
is unregistered? If so, have you considered whether voluntary registration is
worthwhile?
Here are a few points of
consideration.
Selling, mortgaging or
transferring your property
The conveyancer acting for the
other party would need to check the title to the property. If the title is
unregistered, the deeds would need to be examined and could be extensive,
particularly if the property has been within the family for many years. If crucial
deeds are damaged in storage or lost this would cause problems. Missing deeds,
plans or poor quality deeds can also cause delays in the transaction.
Claims for adverse possession
/ boundary definition / fraud
Unregistered land is at a higher
risk of fraud. Fraudsters can assume your identity and attempt to sell or
mortgage your property without your knowledge. Registration helps you to
protect your property from fraud and resist any third party applications for
adverse possession. The Land Registry cannot notify you if your property is
unregistered and you may be unaware of wrongful claims.
Registration also provides for an
understanding as to the boundaries which are reflected in a Title Plan and
could help prevent potential disputes with neighbours. A buyer can also check
the extent of the land to be purchased and that it is in accordance with the
Title Plan.
Register of Title
Registered land is much quicker
for conveyancers to investigate because all matters which burden and benefit
the land has been set out. The Land Registry will detail the required
information from the historic deeds which reduces the reading time and the number
of enquiries to raise.
Costs
In addition to
the benefits set out above, the Land Registry’s fee is halved for voluntary registrations.
If you have
queries in relation to voluntary registrations please do not hesitate to
contact Laura Godfrey, Associate Solicitor by email to laura.godfrey@pardoes.co.uk or
telephone on 01823 446214 or for a no obligation quote, please call our
residential team on 01823 446200.
PardoesSolicitors