Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester on Buying / Selling Commonhold Land
Please note: Not to be used or relied upon without legal advice. These notes are for illustrative purposes ONLY
continued from page 11 . . .
Applications affecting commonhold registrations:
The usual Land Registry transactions, subject to compliance with any restriction, can affect common parts and unit titles. The normal Land registration procedure and fees apply to these applications. For example, because the common parts are registered under one title and each individual unit under a separate title all sales of the units are transfers of whole and should be lodged by Conveyancing Solicitors and Property Lawyers on form TR1 with the relevant fee payable under the LRFO.
The following gives details of special factors affecting some commonhold applications.
Applications received against the commonhold before the last unit is sold:
As the developer retains an interest in the commonhold until the last unit is sold, any application by Conveyancing Solicitors and Property Lawyers against one or more of the titles still in the ownership of the developer (and to which the developer is a party) will be treated by Land Registry as if the application affects one title only.
If the dealing is for value, scale 1 fees apply based on the value of the transaction. Fees for other applications: scale 2 or schedule 3 of the LRFO apply.
Transfer by the developer:
A developer may wish to instruct Conveyancing Solicitors and Property Lawyers to transfer the commonhold to another developer during the transitional period. This doe snot signify the end of the transitional period if all the units are transferred, as no sale of the first unit is taking place.
The fee is assessed under either scale 1 if the transaction is for value or scale 2 of the LRFO on the value of the transaction or the value of the registered estate.
End of transitional period:
Upon the sale of the first unit by the Conveyancing Solicitors and Property Lawyers in a new development the transitional period comes to an end at which time the common parts title vests in the CA and entries are deleted from all unit titles.
No fee is payable in respect of the vesting of the common parts or the entries deleted from the registers (Property Title Deeds) when the transitional period comes to an end.
Contents of form CM1
Completing form CM1:
* Use this form to apply to register freehold estate in commonhold land;
* Complete the numbered boxes that apply.
* If you need more space, use a word-processor form, or use continuation sheet CS and attach to this form
1. Administrative Area and Postcode if known
2. This application affects (place X in the appropriate box)
[ ] unregistered land for which form FR1 accompanies this application
[ ] the whole of the title number(s) . . .
[ ] part of the title numbers . . .
3. If you have already made this application by outline application, insert reference number: [ . . . . ]
4. If the application is for registration with unit-holders you (Conveyancing Solicitors and Property Lawyers) must complete form COV and lodge it with this application.
5. Application and fee section;
6. Documents lodged with this form
[ ] certified copy of certificate of incorporation of commonhold association
[ ] certified copy of any altered certificate of incorporation of commonhold association
[ ] certified copy of memorandum and articles of association of commonhold association
[ ] two certified copies of the commonhold community statement
[ ] statement of truth
[ ] forms CON1 / Court Orders
[ ] Directors Certificate
7. The applicants details . . .
8. Where you (Conveyancing Solicitors and Property Lawyers) would like Land Registry to deal with someone else: (enter details here)
9. Full names and addresses for service of every applicant for entry on the register.
10. Information in respect of any new charges (Mortgages)
11. Name, addresses and company registration number of the CA
12. Signature section.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
Please telephone Paul on 0161 866 8999 if you require any further information.
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