LAND REGISTRATION - You know you own your land, but could you prove it?
Within England and Wales approximately 35% of land is unregistered. It is important to ensure all land is registered as it maintains and develops the register of title to freehold and leasehold in England and Wales. The Land Registry is encouraging Voluntary Registration of land to provide landowners with greater certainty and security regarding land in their ownership.
Appended below are supporting reasons for registration of land;
Registration of land protects landowners against claims for adverse possession; Greater security about what you own; Once land is registered the landowner is in an ideal position if a decision is made to sell some of your property. Potential buyers are increasingly expecting land to be registered before buying; Simplifies conveyancing, making transactions easier and potentially reducing costs; Prevents boundary disputes.All information regarding land registration is stored on the Land Registry database, thus reducing the need to store old and unclear deeds.
In our own experience, in recent years we have had land sales of unregistered land held up for twelve months as a result of boundary disputes between neighbours, which could have been prevented if the land was registered.
The Land Registry are currently offering up to a 25% discount to all first time voluntary registration applicants. The fee for registration is based upon the market value of the land and buildings. Within the coming months the Registry will be reviewing the fee scale for registration and it is likely that the 25% discount will be removed and costs of registration of land will be considerably higher as their budgets are reviewed.
Peter Kendall, President, National Farmers' Union has been quoted in the press as saying;
“The National Farmers' Union welcomes the current Land Registry campaign. Registering your land is a vital step for farmers who want to make sure they are protected against squatters' rights and similar claims. It is simply good sense to have what you own clearly set out in an official register.”
Roger Parry and Partners are able to provide professional advice regarding registering your land.
Please contact our Welshpool Office (01938 554 499) or Oswestry (01691 655 334).
