Selling Part of Your Land: A Guide to Land Registry Requirements and Conveyancing in England and Wales
Posted on 23rd March 2024
When considering selling a part of your land, such as a section of your garden or a portion of a larger plot, there are specific legal and Land Registry requirements you must adhere to in England and Wales. Our Conveyancing Solicitors in Lancaster discuss these requirements and the typical matters to be considered in these types of transactions.
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Land Registry Requirements
The process begins with the division of your property, known as a ‘transfer of part’. This involves separating a portion of your land to create a new, distinct plot which can then be sold. Usually, the division is done as part of the sale, so as to prevent the need for incurring two sets of costs and to avoid delays with the registration of the new plot before sale. This process requires a Form TP1 to transfer part of a registered title, which will be drafted by your Conveyancing Solicitors. You will need to attach a detailed plan to the TP1 form, clearly identifying the land being transferred. This plan is crucial as it sets out the exact boundaries of the portion of land being sold. It would be usual for a professional to prepare this plan, such as a chartered surveyor.
If your land is mortgaged, you will usually need to obtain consent from your lender to sell a part of it, as this could impact the value of the remaining land. This typically involves negotiating with your lender to release the particular plot from the mortgage or agreeing a new mortgage to remortgage the remaining plot you own. You should always seek financial advice from a mortgage broker or financial advisor before making a decision about selling off mortgaged land.
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Conveyancing Solicitor’s Role
Conveyancing solicitors are crucial throughout this process. They can advise on defining boundaries and establishing easements, which are rights over the land, such as access and services (e.g., water, electricity) that the new owner may require. They also help in placing covenants on the land (blog on covenants) which are rules about how the land can be used by the new owner. Additionally, if your land is mortgaged, conveyancing solicitors can assist in acting on your behalf with the lender, acting for the lender too, to register the new mortgage, and redeem any old charge. MG Legal’s conveyancing solicitors are on your mortgage lender’s panel; this will make the conveyancing process seamless, when you are selling part of your land.
The Conveyancing Solicitor will complete and submit the necessary forms to the Land Registry, including the AP1 form to change the register for the new and original plots post-sale. This includes ensuring all parties’ identities are verified through Form ID1 unless represented by a conveyancer, and advising on the correct fees for registering the transfer deed with the HM Land Registry. They will also guide you on the responsibilities regarding Stamp Duty Land Tax or Land Transaction Tax, which may be applicable even if no money exchanges hands.
Splitting the Freehold Title
It is generally not necessary to split the freehold title before selling a part of your land. The title will be divided when the purchaser registers their ownership, using the signed Form TP1. However, if required by the buyer or their mortgage lender, the split can be made prior to completion. This involves submitting an application using form AP1 to the HM Land Registry, including a clear plan that meets registration requirements. If your property is under mortgage, consent from the lender for the subdivision will be needed.
Selling part of your land involves careful consideration, from ensuring proper boundary definitions to legal and Land Registry submissions. Instructing a conveyancing solicitor in Lancaster early in the process is recommended, to help deal with the formalities, and ensure compliance with all legal requirements. They can provide the necessary advice and support to make the sale of part of your land as smooth as possible. Remember, every piece of land is unique, and the requirements may vary based on specific circumstances, so professional guidance from Conveyancing Solicitors is invaluable in these situations.
To speak with our Conveyancing Solicitors in Lancaster, led by Director and Head of Conveyancing, Chloe Cardwell, call 01524 581 306 or email property@mglegal.co.uk.
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Tagged as: Conveyancing, Solicitors in Lancaster
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