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 8 . . .
Leases - Determination
Applying to Land Registry
- Closure of registered leasehold title - reversionary estate unregistered.
A registered leasehold title may determine into an unregistered reversionary estate in the Land, without triggering the first registration of the reversionary estate. To close the registered leasehold title, Conveyancing Solicitors and Property Lawyers will need to lodge:
- form AP1
- the original Lease and/or counterpart Lease, if in the Solicitor's possession
- an examined abstract of the Landlord's title.
Incumbrances affecting the determined Lease:
Conveyancing Solicitors and Property Lawyers will need to consider any incumbrances affecting the leasehold estate being determined and take any necessary action in respect of them.
- if a Lease is determined by notice, effluxion of time, forfeiture or frustration, all incumbrances will normally end automatically with the determination of the Lease and can therefore be ignored.
- if a Lease is being enlarged, any incumbrances affecting the leasehold estate will normally be carried forward to the new registered freehold title.
- if a Lease is being determined by merger, surrender or disclaimer, all incumbrances affecting the leasehold estate which is being determined must be dealt with as appropriate.
* in the case of incumbrances affecting a registered leasehold title, such as registered or noted charges, restrictions and cautions, these should be either discharged, withdrawn or cancelled, and the appropriate documentation lodged to effect this.
- similarly, if the leasehold estate is unregistered, any incumbrances, such as a legal charge, which would prevent determination must be either discharged, withdrawn or cancelled, and the appropriate documentation lodged to effect this.
- where there is a form A restriction on a registered leasehold title and/or on a registered reversionary title, it will not be possible to determine the registered leasehold title by merger unless the Conveyancing Solicitors and Property Lawyers are able to lodge satisfactory evidence that the applicant hold both estate upon the same trusts. Similarly, if the leasehold estate and/or the reversionary estate are unregistered and there is an indication of a trust, Conveyancing Solicitors and Property Lawyers must lodge satisfactory evidence that the applicant holds both estate upon the same trusts.
- where there is a form A restriction on the registered leasehold title and the Lease is being determined by surrender, the surrender is a 'disposition' for the purposes of the restriction. If capital money arises and the surrender is by a sole registered proprietor, the disposition is caught by the terms of the restriction and the registered leasehold title cannot be closed.
- other incumbrances such as subjective easements and restrictive covenants will normally be carried forward to any registered reversionary title, unless they are already substantially repeated on that title.
NB1: Where a Lease has been determined by notice, effuxion of time, forfeiture or frustration, any inferior Leases (ie. any under Leases derived from that Lease and any sub-Leases derived from such under-Leases) will also determine. Where a Lease has been determined by disclaimer see section on Corporate Insolvency. In other cases, any inferior Leases will continue to subsist and may affect the reversionary estate, in which case they will be noted against any registered reversionary title.
NB2: Where a leasehold estate is registered with a possessory leasehold class of title, it will not be possible to determine that registered leasehold title unless the Conveyancing Solicitors and Property Lawyers lodge form UT1, or the title is otherwise capable of being upgraded to absolute leasehold title. This requirement arises from the fact that a Lease registered with a possessory leasehold class of title may be subject to other unregistered interests which might prevent determination.
NB3: Where an incumbrance consists of a legal charge (mortgage) it may be possible to deal with the matter by way of a deed of substituted security, and an application made to register it against a registered reversionary title, as appropriate.
Notices:
It may be necessary for Land Registry to serve notice of the application on any person appearing to be affected by it. Land Registry will decide whether such notice is necessary and, if so, will arrange for the requisite notice to be served.
Land Registry Office:
Conveyancing Solicitors and Property Lawyers should send the application to the appropriate Land Registry office serving the area in which the land / Property is situated. The application is not taken to be made until it is received at the proper office.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 10 (Manchester Conveyancing Solicitors Property Lawyers on Commercial Business Leases 10)
Please telephone Paul on 0161 866 8999 if you require any further information.
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