A UK land investment transaction can be made easier by utilizing the UK Land Registry. The following questions and answers will give you a brief summary of what the UK Land registry offers and how the land investor can use the registry to their advantage:
What is the UK Land Registry?
The UK Land Registry is overseen by the Lord Chancellor and was developed to maintain an efficient and secure system of land registration for England and Wales. The UK Land Register holds official documentation of all registered land in both England and Wales. Each record contains the following five items:
*A unique number: The title number
*A description of the property: The property register
*The location and boundaries of the land: The title plan
*A statement of who legally owns the land: The proprietorship
*Information on mortgages, rights, or interests: The charges register
History of the UK Land Registry:
A mandatory land registration system for UK land was attempted several times during the late 1800's but it was not until 1925 that the compulsory land registration system was successful in mandating that all transactions such as mortgages and sales must include land registration. The 2002 Land Registration Act modified the UK land registration system by allowing the use of electronic signatures for conveyancing purposes.
What are the general benefits of registering UK Land?
*A public record of extent of ownership and rights of way are created
*A guarantee of legal title is ensured
*Decreased possibility of fraud and land dispute
*All mortgages and covenants are legally recorded
How can UK Land Registry information be of benefit to me?
When you are planning to invest in UK land, you can obtain useful information about the property in which you are interested. Several types of searches are available at various prices, according to the type and depth of information in which you are interested in obtaining. The land registry information typically includes the following:
*Name of the owner
*Property description
*Rights of way, restrictions, or other possible adverse conditions regarding the property
*Property price (only available if registered after March 31, 2000)
*Name of mortgage lender, if applicable
How does one register UK Land?
The Land Registry maintains 24 local offices. Each office services several counties in both England and Wales. Registration fees vary according to type and size of land. Your local office can provide you with more information regarding the fee scale, required forms, and registration process for the specific type of land that you wish to register.
Leonard Montgomery is a an expert in UK Land and land investment
For more educational resources about land investment for the private UK land investor please visit http://www.land-investment-uk.com
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