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Access all documents on HM Land Registry
The repository for the Register of Title.
HM Land Registry is staffed by registrars who are responsible for making and updating the Registry of Title. HM Land Registry also discharges a judicial function, resolving disputes over title.
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Option agreements—acting for the buyer—checklist Call or put option? In a 'call' option the buyer will have control in that it may call for a transfer of the property. A 'put' option gives the seller control in that it can require the buyer to take a transfer of the property and therefore the buyer should be especially vigilant in ensuring that the terms for the transfer (particularly those relating to valuation and, if appropriate, insurance) are as favourable as possible. Seller's charges If the property is already mortgaged at the date of grant of the option agreement, there is a risk that the mortgagee may overreach the option by exercising its power of sale. Therefore ensure that the mortgagee either: • joins into the agreement (this is rare in practice), or • provides written consent to the granting of the option In either case, the mortgagee should confirm that if the buyer exercises the option it will acquire the property free from the charge or, if the mortgagee...
Taking security—fixed charge—checklist Scope of this Checklist This Checklist sets out the factors to consider when a company is proposing to grant a fixed charge. It assumes that an English or Welsh company will be granting a number of fixed charges to a lender situated in England or Wales. In this Checklist: • the company granting the fixed charge is called the 'chargor' • the entity to which the charge is granted is called the 'chargee', and • the document containing the fixed charge is called the 'security document' Fixed charges can be granted in a standalone security document or form part of the security created by a debenture (see: Documentation required to create a fixed charge below). For more information, see: Practice Note: Fixed and floating charges. Preliminary questions before taking security by way of a fixed charge • Is a fixed charge the appropriate method of taking security? ◦ A fixed charge can be granted by a company, limited liability partnership and other bodies corporate. It can also...
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The Land Charges Act 1972 (LCA 1972) provides for certain charges and incumbrances relating to unregistered land to be registered as land charges in the land charges register maintained by the Land Charges Department of HM Land Registry (based at its office in Plymouth). This is an entirely separate register to that for substantive title registration.Land charges protect the interests, in unregistered land, of third parties who do not hold the title deeds to the land and so cannot control when and how the land is disposed of.LCA 1972 also requires HM Land Registry, in addition to the register of land charges, to maintain the following registers:•pending land actions and pending actions in bankruptcy•writs and orders affecting land and writs and orders in bankruptcyThe registers of pending land actions and pending actions in bankruptcy and writs and orders affecting land and writs and orders in bankruptcy can be searched separately when a bankruptcy only search is required (for example, prior to completing a mortgage over land). See Practice Note: Carrying...
Flexible financing arrangements in the commercial real estate market Flexible loan structures Following the financial crisis, the real estate finance market saw a retreat of conventional bank lending and an influx of non-bank lenders (NBLs) including insurers and real estate debt funds. Through 2012 and 2013, the absence of bank lending enabled these NBLs to strengthen their position and become established players in the market. With the return to confidence in the real estate investment market and bank lending from 2014, some NBLs, in particular real estate debt funds, are moving up the risk curve away from the senior debt space. This has resulted in a competitive market for real estate debt across the capital stack. Banks, insurers and debt funds have different strategies and focus on optimum deal size, asset class and loan purpose. Four commonly used flexible loan structures are: • flexible senior loans • stretched senior loans • mezzanine loans, and • preferred equity loans Flexible senior loans Banks have a strong presence in this area along...
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Gift of land—transfer clauses Use HM Land Registry Form TR1 and insert in the panels specified below the wording shown Panel 8—consideration The transfer is not for money or anything that has a monetary value Panel 9—title guarantee This transfer is made [with
Occupier’s consent to mortgage THIS IS AN IMPORTANT DOCUMENT AND YOU SHOULD TAKE LEGAL ADVICE BEFORE SIGNING. IF YOU SIGN AND THE LENDER IS NOT PAID YOU MAY LOSE ANY INTEREST YOU MAY HAVE IN THE PROPERTY. Occupier: [insert name of occupier] of [insert address of Occupier] (the ‘Occupier’). Borrower[s]: [insert name(s) of Borrower(s)] of [insert address of Borrower(s)] [(the ‘Borrower’) OR (together, the ‘Borrowers’)]. Relationship to Borrower[s]: [daughter, son or as appropriate]. Property: the property known as [insert details][ registered at HM Land Registry under title number [insert title number]] (the ‘Property’). Lender: [insert name of Lender] incorporated in England and Wales with company registration number [insert company registration number] whose registered office is at [insert registered office address of Lender] (the ‘Lender’). Mortgage: a legal mortgage granted by the Borrower[s] in favour of the Lender to secure all sums due to the Lender as set out in the legal mortgage (the ‘Mortgage’). 1 In consideration of the Lender agreeing to make...
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Do you have any procedural guidance and/or template claim forms/particulars in connection with a claim for a declaration that an easement exists? The Land Registration Act 2002 (LRA 2002) made major changes to the ways in which easements over registered land are created and protected. If an easement over registered land created since 13 October 2003 (when LRA 2002 came into force) is not protected by entry of a notice then, generally, a buyer of the servient land will not be bound by it. See overview: Easements—overview for further detail. Under LRA 2002, a legal easement can be created only by using prescribed HM Land Registry forms. It is essential to remember that where the easement is created as: • part of a transfer of land, you must use a prescribed HM Land Registry form (usually TP1) • a separate transaction then a deed of grant may be used, but in each case the easement will be ‘perfected’ as a legal easement only if you use the correct application form—AP1....
Do you have a template for a statutory declaration where there an owner only has a possessory title? See Practice Note: Land registration—classes of title which covers each of the four classes of titles (absolute, qualified, possessory or good leasehold) awarded by HM Land Registry. It looks at when and how a class of title can be upgraded at HM Land Registry, including the process of upgrading possessory title for leasehold properties. After first registration, the registrar has power to upgrade any inferior title if the statutory conditions for doing so are satisfied. The only people who may apply for an upgrade are: • the registered proprietor or the proprietor of a registered charge affecting the land • a person entitled to be registered as proprietor (eg a personal representative of a deceased registered proprietor), and • a person interested in a registered estate which derives from the estate to be upgraded An application to upgrade an inferior title can be made at any time after first registration provided that...
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This week's edition of Banking and Finance weekly highlights includes: (1) the Council of the EU mandate to shorten settlement cycle for transferable securities; (2) HM Land Registry updates Practice Guide 29; and (3) European Commission consults on revising EU SFDR.
This week's edition of Property weekly highlights includes: a Supreme Court decision on the qualifying period for adverse possession, cases on adverse possession and death, consideration for interim access under the Telecoms Code, overriding interests, discharge of obsolete restrictive covenants and service charges for substandard work, plus an update on Law Commission recommendations.
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