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 5 . . .
Leases - Applications to Register
First Registration
The estate owner or his or her successor in title should instruct Conveyancing Solicitor and Property Lawyers to apply for first registration - see section 6(1) Land Registration Act 2002.
The period for registration is two months from the date of the deed inducing registration - see section 6(4) and (5) LRA 2002.
Applications must be lodged in form FR1 - see rule 23(1) LRR 2003.
Rule 24, LRR 2003 gives Conveyancing Solicitor and Property Lawyers details of what must accompany an application for first registration, ie:
- sufficient details, by plan or otherwise, so that the Land / Property can be identified clearly on the Ordnance Survey map
- the Lease and a certified copy
NB1: If the plan, or sufficient details to identify the Land / Property, are included in the Lease, a further plan will not be required.
NB2: If the Lease is a discontinuous Lease, a copy of any 'timeshare' calendar defining the weeks referred to will be required, if it is not included in the Lease.
- the appropriate stamp duty land tax certificate or self-certificate, if applicable.
NB. A Lease dated on or after 1 December 2003 for seven years or more requires a Land Transaction Return certificate but it can be self-certified provided there is no premium and no rent of any monetary value (section 77(2)(a) Finance Act 2003). A peppercorn rent is of no monetary value. In practice HM Revenue & Customs accepts that rent of less than £1 per annum is of no monetary value as the stamp duty land tax forms do not take account of pence. In some circumstances there is no chargeable consideration on the grant of a Lease even though the Lease provides for rent, for example on the grant of a Lease in respect of which the entire rent has been fully taxed on substantial performance of an agreement for Lease or from entry into occupation under licence. If this is the case the Lease can be self-certified but Conveyancing Solicitors and Property Lawyers will need to explain the circumstances in a covering letter as Land Registry may reject any application that fails to include a certificate where one appears to be necessary.
Advice on whether a particular transaction:
* requires to be notified to HMRC on a Land Transaction Return Certificate
* ca be self-certified to Land Registry
* is exempt from SDLT (such as a legal charge - mortgage)
* falls outside the scope of SDLT
can be obtained from the Stamp Taxes department at HMRC.
- all deeds and documents relating to the Property title that are in the control of the Conveyancing Solicitors and Property Lawyers for the applicant.
NB. If absolute Leasehold is requested in form FR1 and the evidence of the superior title(s) is not lodged, Land Registry will only register the applicant with good leasehold title. Land Registry will not raise a requisition for this evidence.
- a list in duplicate in form DL of all the documents delivered.
If the Lease is granted to two or more persons and it either does not contain details, or contains conflicting information, as to whether a Form A restrictions (see schedule 4 Land Registration Rules 2003) is required, Land Registry will enter a restriction in form A by default. If the Lease is granted on or after 19 June 2006 and contains the prescribed clauses, a declaration of trust is contained in clause LR14.
Any restrictions, other than a Form A restriction, must be applied for in form RX1 - rule 92 LRR 2003. A restriction cannot be applied for in a Lease however, from 9 January 2006, a Lease containing clauses LR1 to LR14 of schedule 1A LRR 2003 may be used, at clause 13, to apply for entry of a standard form restriction. This will include prescribed clauses Leases granted on or after 19 June 2006. An application for a non-standard restriction must always be made in form RX1.
A leasehold register (Property title Deeds) will include sufficient details of the Lease being registered to enable it to be identified - see rule 6 LRR 2003. Such details will no longer include any reference to the rent payable under a Lease and it may be destroyed.
Leases out of a registered title
These applications must be lodged by Conveyancing Solicitors and Property Lawyers in form AP1 - rule 13 LRR 2003. The Lease, a certified copy and the appropriate fee under the current Land Registration Fee Order must accompany the application.
NB. If a certified copy of the Lease is not lodged with the application - rule 203 LRR 2003 - Land Registry will retain the original Lease and it may be destroyed.
The Lease, if granted on or after 19 June 2006, must be a prescribed clauses Lease. The Lease must be accompanied by the appropriate stamp duty land tax certificate or self-certificate, if applicable.
A leasehold register will include sufficient details of the Lease being registered to enable it to be identified - see rule 6 LRR 2003. Such details will no longer include any reference to the rent payable under a Lease.
If the Lease is granted to two or more persons and it either does not contain details, or contains conflicting information, as to whether a form A restriction (see schedule 4 LRR 2003) is required, Land Registry will enter a restriction in form A by default. If the Lease is a prescribed clauses Lease a declaration of trust is contained in clause LR14.
Any restrictions, other than a Form A restriction, must be applied for in form RX1 - rule 92 LRR 2003. A standard restriction cannot be applied for in a Lease. However, from 9 January 2006, a Lease contained clauses LR1 to LR14 of schedule 1A LRR 2003 may be used, at clause LR13, to apply for entry of a standard form restriction. This will include prescribed clauses Leases granted on or after 19 June 2006. Form RX1 must continue to be used to apply for entry of a restriction contained in any other Lease, or for entry of a non-standard form restriction.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 7 (Manchester Conveyancing Solicitors Property Lawyers on Commercial Business Leases 7)
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