Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester on Commercial Business Leases
Please note: Not to be used or relied upon without legal advice. These notes are for illustration purposes ONLY
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Leases - when to register
Transfers or assignments of unregistered Leases having more than seven years of the term unexpired:
see sections 4(1)(a), 4(1)(aa) (as introduced by the Land Registration Act (Amendment) Order 2008 and section 4(2)(b) Land Registration Act 2002.
Transfers or assignments of unregistered Leases, that at the time of the transfers (or assignments) have more than seven years to run, are compulsorily registrable by Conveyancing Solicitors and Property Lawyers if they are made either:
- for valuable or other consideration - that under section 4(6) Land Registration Act 2002 includes estates that have a negative value
- by way of gift - section 4(7) Land Registration Act 2002 provides for:
* transfers for the purpose of setting up a trust, where the person setting up the trust, 'the settlor' does not retain the whole of the beneficial interest, or
* transfers of the legal title to the beneficial owners, where the settlor did not retain the whole of the beneficial interest when the trust was set up
- pursuant to an Order of any Court
- by means of an assent - including a vesting assent, or
- if dated on or after 6 April 2009:
* to give effect to a partition of Land subject to a trust of Land
* by a deed that appoints, or by virtue of section 83 Charities Act 1993 has effect as if it appointed, a new trustee or that is made in consequence of the appointment of a new trustee, or
* by a vesting order under section 44 Trustee Act 1925 that is consequential on the appointment of a new trustee.
N.B. Not all transfers or assignments attract compulsory registration.
The following as specific types of transfers or assignment that are not subject to compulsory registration.
- transfer by operation of Law, e.g. when a deceased's Property vests in their executors - see section 4(3) Land Registration Act 2002. However, a transfer by operation of Law that is within section 4(1)(aa) Land Registration Act 2002 e.g. when Property vests in a new trustee by an express vesting declaration, or one that is implied, under section 40 Trustee Act 1925 in a deed appointing a new trustee, is subject to compulsory registration.
- An assignment of a mortgage term, i.e. mortgage by demise - see section 4(4)(a) Land Registration Act 2002.
- An assignment or surrender of a Lease to the owner of the immediate reversion where the term is to merge into that reversion - see section 4(4)(b) Land Registration Act 2002.
Transfers or Assignments of unregistered Leases where section 171A Housing Act 1985 applies
see section 4(1)(b) Land Registration Act 2002.
All transfers of unregistered Leases, irrespective of the length of the term of the Lease, made pursuant to section 171A Housing Act 1985 (Preserved Right to Buy) are compulsorily registrable.
Transfers of any registered Leases
see section 27(2)(a) Land Registration Act 2002
Most transfers of registered Leases, irrespective of the length of the term of the Lease, are compulsorily registrable. However, the following transfers by operation of law are not required to be registered.
- a transfer on the death or bankruptcy of an individual proprietor
- a transfer on the dissolution of a corporate proprietor
Right to Buy Leases - Part V of the Housing Act 1985
see sections 4(1)(e) and 27(2)(b)(iv) Land Registration Act 2002.
All leases, irrespective of the length of the term of the Lease, made pursuant to Part V of the Housing Act 1985 are compulsorily registrable.
Leases where section 171A Housing Act 1985 applies
see sections 4(1)(f) and 27(2)(b)(v) Land Registration Act 2002.
All Leases, irrespective of the length of the term of the Lease, made pursuant to section 171 Housing Act 1985 (Preserved Right to Buy) are compulsorily registrable.
Reversionary Leases taking effect more than three months from the date of the grant
see section 4(1)(d) and 27(2)(b)(ii) Land Registration Act 2002.
A 'reversionary' Lease gives the Lessee a right to possession of the Leased Property in the future, ie the Lessee does not have an immediate right to possession of the Property in the Lease, at the date of the Lease.
A Lease granted out of either an:
- unregistered Leasehold estate, that at the date of grant has more than seven years left to run
- unregistered freehold estate, or
- existing registered title
that is granted for any term to take effect more than three months from the date of the grant is compulsorily registrable.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 3 (Manchester Conveyancing Solicitors Property Lawyers on Commercial Business Leases 3)
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