Once the property matter has completed, post-completion begins, where submissions such as Stamp Duty Land Tax (SDLT) and Land Registration applications are performed.
This article will summarise what Land registration is, and the benefits of registering your title.
The solicitor will register the purchaser client as the new owner of the property with HM Land Registry.
We deal with Land Registry on a daily basis. This is mainly to submit Land Registry applications. However, before we proceed to drafting an application, the Land Registry will expect us to check the Official Copy Register, to make sure that the property is registered. Land Registry guidance and the information provided must be in its forms. If the land is unregistered, there is a different method used which can be a lengthy process involving more time for the property to be registered.
It is crucial to accurately draft and submit an application. This is because, if the application is incomplete or contains errors, a requisition will be raised by the Land Registry. In such cases, further information will be needed to complete the application successfully. This can result in a further delay for the application to be registered. The common requisitions can include the names varying between the register, transfer and charge to restrictions in the register.
Land registration confers benefits and safeguards to property owners.
There are many benefits of registering your title, such as:
- The HM Land Registry guarantees your title.
- The HM Land Registry will hold your title electronically, meaning no deed can be lost.
- You will have security and certainty as to what you own.
- The extent of your property will be shown on the Plan provided by HM Land Registry.
- Your interest in the property and the title would be protected by being part of a public register.
If you require further information, please do not hesitate to contact our experienced property law team at Bond Adams LLP Solicitors. You can contact us on 0116 285 8080 or email us at lawyers@bondadams.com.