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
continued from page 2 . . .
Leases - when to register
Discontinuous Leases out of a registered titles or granted for a term of more than seven years out of unregistered Land
see section 27(23)(b)(iii) Land Registration Act 2002.
These are Leases where the Lessee's 'right to possession' of the Land demised is discontinuous. The Lease may be of a Property e.g. a flat, apartment or market stall, that is for either:
- a specified number of days a week, e.g. every Monday to Friday (inclusive) or
- a specific week(s) in a calendar year.
All discontinuous Leases granted out of a registered title must be registered, regardless of the term.
Discontinuous Leases granted for a term of more than seven years out of unregistered freehold or leasehold estates will be compulsory registrable.
See sections 4(1)(c) and 4(2)(b) Land Registration Act 2002 and see section New Leases granted for a term of more than seven years out of unregistered Land.
To calculate the length of the term on such a Lease, Conveyancing Solicitors and Property Lawyers should multiply the number of completed weeks each year the Property is demised by the number of years granted.
If the total is more than seven years (i.e. more than 364 completed weeks), the Lease and/or transfer will be compulsorily registrable.
Protected first legal Mortgage
See sections 4(1)(g) and 4(2)(b) Land Registration Act 2002 and rules 21 and 22 Land Registration Rules 2003.
A protected first legal mortgage of an unregistered Leasehold estate, that has more than seven years of its term unexpired, is subject to compulsory first registration. In order for such a mortgage to be registered, the Leasehold estate will also need to be registered. Rule 21 Land Registration Rules 2003 allows a mortgagee (mortgage lender) of a protected first legal mortgage to apply to have the leasehold estate registered, whether or not the mortgagor consents to the application.
N.B. A 'protected mortgage' is a mortgage that is protected by the deposit of documents relating to the mortgaged estate - see section 4(8)(a) Land Registration Act 2002.
NB2: A 'first legal mortgage' is a legal mortgage that ranks in priority over all other mortgages affected the mortgaged estate - see section 4(8)(b) Land Registration Act 2002.
Voluntary Registration
Section 3 Land Registration Act 2002 gives details of when an application can be made to voluntarily register an unregistered leasehold estate.
The following sections mainly apply to Leases that are made before 13 October 2003 and when no events requiring registration have occurred. However, some of the sections will also apply to some Leases that are granted on or after 13 October 2003, that can be registered but may not be subject to compulsory registration. For example, see section: Discontinuous Leases out of unregistered Land.
The following sections give details of the leasehold estates in Property that can be lodged voluntarily for first registration.
Leases having more than seven years of their term unexpired
see section 3(3) Land Registration Act 2002.
Most Leases will be accepted for registration, provided there is more than seven years of the original term left unexpired at the time of first registration. If the Lease is granted on or after 13 October 2003 it will be subject to compulsory registration - see section: New Leases granted for a term of more than seven years out of unregistered Land.
Where a Lessee holds a Lease in possession but is granted another Lease of the same Property, to take effect in possession on or within one month of the expiry of the first Lease, the two terms can be treated as creating one continuous term - see section 3(7) Land Registration Act 2002. Therefore, if the two terms total more than seven years, Land Registry will accept a voluntary application by the Conveyancing Solicitors and Property Lawyers for registration of both Leases, that will be registered together on the same title.
N.B. Section 3(7) Land Registration Act 2002 only provides that such Leases can be treated as creating one continuous term for the purposes of voluntarily registration. There is no provision that such Leases are to be treated as one continuous term for the purposes of compulsory registration.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 4 (Manchester Conveyancing Solicitors Property Lawyers on Commercial Business Leases 4)
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