![Houses on plots of land for land registry](https://www.awbclaw.co.uk/wp-content/uploads/2024/06/Land-registry.jpg)
Is it time to register your property at the Land Registry?
Unless you purchased your property, or have taken out a mortgage, in the last 25 years – chances are your property has not yet been registered.
Currently more than 89% of the land mass of England and Wales is registered with HM Land Registry.
Although it is not compulsory to register your property until you sell, transfer, or take out a mortgage there are many advantages to doing this now:
- Cost
If you register your property voluntarily you will benefit from a reduced Land Registry Fee. The legal costs associated with selling an unregistered Property tend to be higher due to the complexity of the title and the extra work involved. It is also common for the transaction to take longer and, on occasion, the purchaser may have difficulty finding a conveyancing firm who are willing to deal with a transaction involving unregistered land – unfamiliarity and lack of training are usually to blame for this.
- Proof of Ownership
Registering your property at the Land Registry should provide you with absolute title (on the basis that you have a full set of title deeds with no gaps in legal ownership) i.e. unequivocal proof of ownership and will instantly reduce the risk of any deeds becoming lost or destroyed.
- Reduces Risk of Property Fraud
An unregistered property is at a higher risk of being the subject of a fraudulent transaction (i.e. where a fraudster manages to sell or mortgage your property, pretending to be you, without your knowledge). If your property is registered you can take advantage of the following anti-fraud protections:
- Track changes to the Register by setting up a Property Alert via the Land Registry. The service is free and you are able to track up to 10 titles with each account.
- Put a restriction on your title. If your property is then sold, your buyer’s solicitor will need a certificate signed by your solicitor confirming that you are indeed the correct owner of the Property and the same person who signed the Transfer.
If you ever suspect that you are a victim of property fraud contact HM Land Registry property fraud line (0300 006 7030) or email: reportafraud@landregistry.gov.uk.
- Prevents Squatters Rights
If your property is registered the Land Registry will notify you if squatters apply for legal ownership of your property. You have 65 days to object. If your property is not registered the Land Registry may not be able to notify you and the application will go unchallenged.
- Gets your Estate in order
A registered property asset is simpler to transfer than an unregistered property asset. Again the transfer in this situation will trigger compulsory first registration and a higher registration fee will apply.
For further details about registering your property with the Land Registry, or to check whether your property is in fact registered, please contact Katie Miller on 01756 692 884 or katie.miller@awbclaw.co.uk.
28 June 2024
Further Reading: