Manchester Conveyancing Lawyers | Ford Banks Irwin Solicitors - The Property Solicitors in Manchester on Fees for Buying / Selling a House / Flat / Apartment.
Please note: Not to be used or relied upon without legal advice. These notes are for illustration purposes ONLY
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Transfer / Buying a House / Apartment / Flat
Protection of Third Party Interests
Beneficiaries under a Trust of Land:
An interest under a trust of land can only be protected by a restriction according to the Land Registry. A beneficiary under a trust of land should generally instruct Conveyancing Solicitors and Property Lawyers to apply for a restriction in form A, if a restriction in form A has not already been entered in the Property Deeds. A form A restriction ensures that any capital money must be paid to two trustees or a trust corporation. The application should be accompanied by a certified copy of the trust deed evidencing the applicant beneficiary's interest under the trust of land. The statement in panel 12 of form RX1 or Solicitor's certificate in panel 13 should be completed, setting out how the beneficiary's interest under the trust of land has arisen.
A consent restriction in form N will not normally be appropriate as this would give the beneficiary a right they are not entitled to and could result, in practice, in thwarting the clear intention of sections 42(1)(b) and 44(1) Land Registration Act 2002 and section 2 and 27 Law of Property Act 1925 that overreaching should take place. However, such an application for a form N restriction in addition to a form A restriction might be made, for example, by a beneficiary whose specific consent is required in the trust deed to any disposition by the trustees. Such a restriction may also, of course, be entered if the registered proprietors apply for or consent to such a restriction.
The position is similar where the beneficiary's interest under a trust of land arises under an implied, resulting or constructive trust rather than by deed. The interest may only be protected by restriction, not notice, and again the form RX1 application should generally be for a restriction in form A. The statement in panel 11 of form RX1 or Solicitor's certificate in panel 12 should set out how the beneficiary's interest under the implied, resulting or constructive trust of land has arisen.
A beneficiary under a trust of land may, however, wish to apply for an additional form of restriction and will be able to do so in certain circumstances. For example, a beneficiary under a constructive trust claiming that the registered proprietors hold on a trust of land for the beneficiary and for themselves may apply for a restriction in form II.
The application should be made by Property Solicitors and Conveyancing Lawyers in form RX1 and the statement in panel 11 or Solicitor's certificate in panel 12 should set out how the beneficiary's interest under the trust of land has arisen. Note: that payment of capital money to two trustees or a trust corporation will still overreach the beneficiary's interest under the trust of land and a restriction in this form will not prevent overreaching.
Special provision is made under the Land Registration Rules 2003 where the beneficiary's interest under a trust of land arises from a Charging Order on a beneficial interest, a trustee in bankruptcy has a beneficial interest in a registered Property held under a trust of land.
Home Rights
Home Rights may only be protected by agreed notice (rule 80(a) Land Registration Rules 2003). Property Solicitors and Conveyancing Lawyers should apply in form HR1. Where the application is made after the Court has made an Order under section 33(5) of the Family Law Act 1996, Land Registry require an office copy of the Order or a Solicitor's certificate confirming they hold such an Order.
Where the Court has made an Order under section 33(5) of the Family Law Act 1996, an application for renewal of registration in respect of matrimonial home rights should be made in form HR2. Property Solicitors and Conveyancing Lawyers should enclose an office copy of the Order or the Solicitor's certificate confirming they hold such an Order.
Option Agreements and Rights of Pre-emption:
An option to purchase or a right of pre-emption may be protected by agreed notice or unilateral notice, as may an option to renew a Lease. If Property Solicitors and Conveyancing Lawyers are applying for an agreed notice they should lodge form AN1 and the deed creating the option or right of pre-emption, or a certified copy of it. They should also enclose the consent of the registered proprietor, where available. If applying for a unilateral notice Land Registry require form UN1, completed with either a statement or a Solicitor's certificate setting out the details of the agreement, including the date of the agreement and the parties.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
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Please telephone Paul on 0161 866 8999 if you require any further information.
Ford Banks Irwin Solicitors
50 Stothard Road
Stretford
Manchester
M32 9HB
Tel: 0161 866 8999
Fax: 0161 866 8333
E-mail: info@FordBanksIrwinSolicitors.co.uk
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