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First Registration in UK |
Until April 1998, s.123 of the land registration Act, 1925 stated that first registration must take place within two months of the completion of;
- A conveyance on sale of a freehold, or
- A grant of a new lease of a term of more than 21 years, or
- The assignment on sale of an existing lease where the term left to run exceeds 21 years at completion..
Section 123 did not include gifts, assents, mortgages or exchanges because they did not include any monetary transactions. The Land Registration Act, 1997, which was enforced on and from 1st April, 1998 extended the scope of first registration. However under the 1997 Act, first registered properties will also arise out of conveyances by way of gift, assents, vesting assents, vesting deeds, conveyancing arising out of court orders, first legal mortgages of freeholds and leaseholds with more than 21 years to run. Re – mortgages where a first legal mortgage is involved will also fall within this arena.
By s.1 of the Land Registration Act, 1997, the properties that require first registration are:
- Deeds of gifts
- Conveyances and assignments not on sale but for a consideration
- First mortgages secured by deposit of title deeds
- Assents
- Vesting assents and vesting deeds affecting settled land
- Exchanges with no payment of equality money including properties taken in exchange by developers
- Conveyances and assignments of onerous property i.e. polluted land
- Conveyances and assignments in pursuance of Orders of the Court.
A leaflet have been issued by the Land Registry office, which gives a detailed guidance to all the above.
By section 123, the Chief Land Registrar is empowered to extend the two – month period for first registration. This is of great help to the late applicants. However the late applicants are required to give a clear explanation about the delay to the Chief land registrar. After and if the late registration is condoned, the property gets transferred in the name of the new proprietor but only from the date of the registration. In case of late application, the Registry Office will require up-to-date search reports along with those made at the time of completion.
Section 123 also covers the situation where there is a complete failure to apply for compulsory first registration. In such situations, the deed that is unregistered is deemed to be void in relation to the grant of conveyance of a legal estate. Here the legal estate in the unregistered title will pass from the seller to the buyer but after the statutory period, the same will revert back to the seller along with the original effect in equity. A deed is not void for all purposes. The covenants contained within the document can be enforced even though registration has not taken place or has been applied for. In case the lawyer fails to submit an application on behalf of a client, due to which, the client suffers a loss, then it is a sure case of professional negligence and professional indemnity insurance policy can be claimed against it.
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