At MG Legal, we understand that the term ‘First Registration’ may mean nothing to you. However, if you are purchasing a property that is currently unregistered at the Land Registry, your solicitors in Lancaster will be required to carry out this process on your behalf.
Upon Completion of your purchase, your solicitors Lancaster are required to formalise matters by submitting an application to register the change of ownership of the property. Your solicitors Lancaster will, firstly, receive the following documents from the seller’s solicitor:
Signed Part Contract, on behalf of the seller,
Signed Part Transfer Deed, on behalf of the seller,
Any Title Deeds and documents which relate to the property.
In previous years, it was not compulsory for land, and any changes to the Title, to be registered at the Land Registry which does mean that there are still a large number of properties that are still unregistered which triggers the need for First Registrations.
With unregistered Title, it is the Deeds that are of importance to your solicitors Lancaster at this stage. The Deeds are a collection of documents which provide evidence of the various changes of ownership, Charges and Title history of the property which lead to the present position. These documents provide what is called ‘Root of Title’ and detail the various rights and restrictions the property is subject to. Your Lancaster solicitor will organise these documents, by date, and record them on a Documents List Form – ‘DL’.
Your solicitors in Lancaster are then required to submit an Application for First Registration, in form FR1, on your behalf in order to register the title to the property with the Land Registry, but also to register this Title in the names of the new legal owners of the property. The Application will include the appropriate Land Registry Form FR1, the Documents List and the Deeds themselves.
The Land Registry then review the documents and will register the property on their records, as well as registering the property in the names of the new property owners.
There is a fee for the process which will vary dependent on the value of the property and this process can also take up to 16 weeks to complete. Matters can, however, be expedited sooner if there are exceptional circumstances, for example, if there is a further sale dependent on the land being registered. In such cases, the Land registry can formalise the registration much sooner.
If you are aware that your property is unregistered, however, are not selling, you can also instruct your nearest solicitors to carry out a Voluntary Registration on your behalf, which works in the same way.
For more information on the registration process, or any other conveyancing query, contact our team of solicitors in Lancaster for more information today on 01995 602 129.
Get in touch and talk to an expert property conveyancing solicitor today.
MG Legal's expert property solicitors are experienced in dealing with all aspects of residential and commercial property sales, purchases and disputes.