PROTECT YOUR ASSETS - REGISTER
YOUR LAND
08/11/2010
By Trevor Bailey – Land Registry
Your land is your livelihood and your most important
financial asset. You can give it greater protection now
by registering it at Land Registry.
You may be surprised
to learn that while 75 per cent of England and Wales
is already registered, this leaves 25 per cent without
this level of ownership protection. Much of this remaining
unregistered land is farmland.
Land Registry, which has
been in existence since 1862, is the government agency
responsible for registering the legal ownership of land
in England and Wales. Please note that land registration
is not the same as registration with the Rural Payments
Agency/ Rural Land Register.
WHY REGISTER NOW?
We are keen to promote
the benefits of registration which all property owners
can reap. As a result we are currently offering a discount
of 25 per cent on the full cost of first registration
for voluntary applications.
You need register your land
only once and, having done so, you will be in a better
position to manage your property assets in the future.
It
should be noted, however, that in the current economic
climate, the discount on Land Registry fees and the level
of assistance made available are both likely to be reduced
or withdrawn in the future.
WHAT ARE THE BENEFITS?
The main benefits
can be summarised as follows;
Security: Registration is
the best available title guarantee. A registered title
is guaranteed by the state, protecting the owner against
claims of adverse possession. It also helps put your
property matters in order for the future.
Convenience:
All title information is kept on Land Registry’s
database and can be viewed quickly and securely online,
often reducing the need to store old and often unclear
deeds.
Value: Registration provides an easy to read document,
which reflects the contents of all the paper deeds. This
simplifies land sales, making conveyancing easier and
potentially less costly for all involved.
HOW IS IT DONE
AND WHAT DOES IT COST?
Your local Register Development
Manager will discuss the registration process with you
and help make it as straightforward as possible. We will
require the title deeds in order to extract the relevant
details but all of these will be returned on completion
of the registration. Don’t worry if not all the
relevant title documents can be produced or there are
concerns about parting with valued deeds. Land Registry
can provide assistance and in many instances can complete
registration even when the title documents are missing.
There
is a one-off fee payable, based on the current market
value of the land and buildings, and starting from as
little as £40.
George Streatfield of Denhay Farms
in Dorset is just one of thousands of satisfied customers:
“We registered our land after we were approached by Land Registry suggesting
it was a good time to go ahead. The 25 per cent discount certainly focused the
mind a bit. Our registration involved several parcels of land, including some
I had been given through inheritance, so it wasn’t all straightforward
but it went smoothly enough. The Weymouth Office took care of the work and they
were very good. Registration is a sensible thing to do and I would recommend
it.”
WHAT DO YOU DO NEXT?
It may be that your land is already
registered. Indeed if you purchased it within the last
20 years it probably is. However, if you wish to confirm
this, or find out more about the registration process,
please contact our helpline team on 0800 432 0432 between
9am and 5pm Mondays to Fridays, or e-mail registerland@landregistry.gsi.gov.uk
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