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Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester on Transfer of a House / Flat / Apartment.

Please note: Not to be used or relied upon without legal advice. These notes are for illustration purposes ONLY

. . . continued from page 10

Transfer of a House / Flat / Apartment

Abbreviations and terms used

'Overriding interests' are unregistered interests which override first registration, or registered dispositions as listed in schedules 1 and 3 of the Land Registration Act 2002.

'registrable disposition' means a disposition which is required to be completed by registration under section 27 Land Registration Act 2002

'registered disposition' means a registrable disposition which has been completed by registration

'disclosable overriding interest' means an overriding interest which has to be disclosed under rules 28 or 57 Land Registration Rules 2003

Overriding Interests

What are overriding interests ?
Overriding interests are interests to which a registered title is subject, even though they do not appear on the Property Deeds. They are binding both on the registered proprietor and on a person who acquires an interest in the Property.

They have always been a feature of the house buying system, though the term itself was first introduced in the Land Registration Act 1925.

Effect of the Land Registration Act 2002 on overriding interests?
The LRA 2002 seeks to reduce the number of overriding interests, and to replace as many as possible of them with register entries. This is in keeping with its overall objective of making the Property Deeds as complete a record of title as possible.

It does this by:
- reducing the scope of some overriding interests;
- providing for the eventual abolition of others;
- requiring people applying for registration to provide information about unregistered interests so that they can be noted on the Property Deeds;
- providing that, once an interest has been noted on the Property Deeds, it loses its overriding status forever, even if the entry on the Property Deeds is cancelled;

In addition the Land Registration Act 2002 distinguishes, for the first time, between interests that override first registration and those that override subsequent registrable dispositions.

Background information on the types of overriding interest mentioned in the Land Registration Act 2002 are given in section: Overriding interest in more detail. Details of those which must be disclosed by applicants are in section: Disclosable overriding interests.

Reducing the number of overriding interests

The Land Registration Act 2002 contains a number of mechanisms by which overriding interests will be brought on to the Property Deeds. These are:
- certain interests will lose overriding status after 10 years and may be noted free of charge;
- a general power for Land Registry (subject to service of notice) to note overriding interests that come to, or are brought to its attention. This might include, for example, noting the burden of a legal easement on a registered Property, or making a building estate subject to an interest disclosed on an application relating to a single plot.
- the duty of applicants to disclose overriding interests affecting the Property.

Disclosable overriding interests

When must you disclose an overriding interest?
Conveyancing Solicitors and Property Lawyers should disclose overriding interests when making an application for first registration or for registration of a registrable disposition of the registered Property.

Conveyancing Solicitors and Property should disclose any such interest (unless it is an interest of a kind mentioned in section: What interest should not be disclosed) that is within the actual knowledge of the person applying for registration. There is no need to carry out any special investigation. Conveyancing Solicitors and Property Lawyers may need to explain to clients what interests should be disclosed.

(All italics in this page are Crown Copyright and reproduced here for your information with permission from HM Land Registry)

. . . continued on page 12 (Manchester Conveyancing Solicitors Property Lawyers on Transfer of House / Flat / Apartment 12)

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