Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester on Transfer of Deeds and Names on Title Deeds of any House / Apartment / Flat.
Please note: Not to be used or relied upon without legal advice. These notes are for illustration purposes ONLY
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Transfer of Deeds or Names on Title Deeds
What form will the entry take when the exact price or value is known?
The following forms of entry will appear on proprietorship registers:
"The price stated to have been paid on [date of disposition] was £xxx"
"The price other than rents, stated to have been paid on the grant of the Lease was £xxx"
"The value states as at [date of application] was £xxx"
What form will the entry take if the level of fees paid is used to assess the value?
Conveyancing Solicitors and Property Lawyers will be familiar with the following forms of entry which appear on proprietorship registers:
"The value as at [date of application] was stated to be under £xxx"
"The value as at [date of application] was stated to be between £xxx and £yyy"
"The value as at [date of application] was stated to be over £xxx"
How long does the information remain on the Property Deeds?
The information will stay on the Property Deeds until there is a further change of ownership that results in a new price or value entry being made.
How reliable is this information ?
The entry is based on the information Land Registry see in the transfer or application form. It may not represent the full market value of the Property. The entry makes it clear that the figure stated is that given in the transfer document. Land Registry will not verify it. In some cases, it may not represent the complete picture. For instance, when the parties are associated with each other there could be many reason why the price paid is not the full market value of the Property.
What does the absence of an entry mean?
Absence of a price paid entry does not necessarily mean that there has been a gift of the Property. The price paid information may itself be misleading (for some other reason associated with the nature of the transaction concerned), or the price may not have been readily ascertainable. If no entry of price paid or value stated appears, Land Registry may either have received the application to register the change of ownership before 1 April 2000, or some aspect of the transaction (such as only part of the Property changed hands) would make the entry of value stated misleading.
Will Land Registry publish this information?
Land Registry already publishes aggregate residential property price information. They also provide aggregate information down to postal sector level. Consideration will be given, in due course, to extending this service to postcode level. Land Registry do not at present plan to publish aggregate information relating to commercial properties. Conveyancing Solicitors and Property Lawyers can obtain copies of Title Deeds or individual properties by applying for an official copy of the relevant register of title.
Were Land Registry customers consulted about this change of procedure?
The proposal to restore price paid information to the Property deeds was a matter on which Land Registry consulted widely with Conveyancing Solicitors and Property Lawyers in October 1997. The consultation paper was issued direct to representative bodies, such the Law Society and the Bar Council and made available on the Internet in response to press publicity. A report was made to the Lord Chancellor in February 1998 based on the responses. The majority of the responses either strongly opposed or strongly supported the proposal. Having considered the responses, the Lord Chancellor decided to adopt the proposal.
(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)
. . . continued on page 6 (Manchester Conveyancing Solicitors Property Lawyers on Transfer of Deeds or names on Deeds 6)
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