Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors

Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester on Transfer, Equity and Trusts of Land

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

. . . continued from page 10

Private Trusts of Land / Property

Dispositions by trustees and personal representatives:

Compliance with restrictions on the register:
Conveyancing Solicitors and Property Lawyers must comply with any restrictions on the register (Property Title Deeds) before a disposition can be registered at the Land Registry.

Form A restriction:
If a sole or sole surviving proprietor is registered with a Form A restriction, and capital money arises under the disposition, Conveyancing Solicitors and Property Lawyers will need to appoint one or more new trustees to join in the disposition.

If, however, that proprietor has become the sole beneficial owner, one option is to apply to cancel the restriction.

If the disposition is one under which no capital money arises, for example a rack rent Lease, then the Form A restriction will not prevent registration.

Form B and Form C restrictions:
A restriction in form B or form C will be satisfied by providing the appropriate certificate or statutory declaration.

Where there is difficulty complying with a restriction:
If the disposition creating the trust calls for the consent of a minor, the trustees should instead obtain the consent of a parent who has parental responsibility for the minor (within the meaning of the Children Act 1989) or a guardian.

If the disposition creating the trust requires the consent of more than two persons to a disposition and it is not possible to obtain the consent of all of them, but two of the necessary consents can be provided, this is sufficient according to the Land Registry for Conveyancing Solicitors and Property Lawyers acting on behalf of a Purchaser.

In some cases of difficulty it may be appropriate to apply to the Registrar for an order under section 41(2) Land Registration Act 2002, disapplying or modifying the restriction in respect of a particular disposition or kind of disposition. Conveyancing Solicitors and Property Lawyers must apply on form RX2. They will need to:
- state whether they are applying to disapply or modify the restriction, and, if the latter, give details of the modification requested;
- explain why the applicant has sufficient interest in the restriction to make the application;
- give details of the disposition or kind of disposition that will be affected
- state why the Registrar should make the Order

Land Registry will serve notice of the application on any other persons who appear to have an interest in the restriction. If the Registrar makes an Order, Land Registry will enter an note of its terms in the register (Property Title Deeds).

Powers of attorney granted by trustees:

There are several statutory provisions enabling trustees to delegate their functions, individually or collectively.

Under section 9 Trustees of Land and Appointment of Trustees Act, the trustees, acting jointly, can delegate their functions to a beneficiary or beneficiaries by means of a Power of Attorney. But the Attorneys cannot give a valid receipt for capital money, even if they are two or more (section 9(7) TLATA). If capital money arises on a disposition, the trustees (or their individual Attorneys appointed under section 25 Trustees Act) will have to execute it to give the receipt. Usually, therefore, there will be little point in the Attorney executing it as well. An Attorney under section 9 TLATA can however execute a disposition under which no capita money arises, such a a rack rent Lease.

Cancellation and Withdrawal of restrictions:

Automatic cancellation of restrictions:
In certain circumstances, Land Registry will automatically cancel a trust restriction when registering a transfer (under rule 99 Land Registration Act 2003). In all other cases, the restriction will remain unless a specific application is made by Conveyancing Solicitors and Property Lawyers to cancel it. Voluntary restrictions, such as those requiring the consent of a named person, should never be cancelled automatically.

A form A restriction will be cancelled automatically on registration of either:
- a transfer on sale by two or more proprietors or a trust corporation (except where the transfer is to one, or more, of the existing proprietors), or
- a transfer by a registered chargee (Mortgage Lender) under its Powers of Sale

A form B restriction will be cancelled automatically on registration of either:
- a transfer on sale by the proprietor(s), when a certificate or statutory declaration has been provided in accordance with the terms of the restriction, or
- a transfer by a registered chargee (Mortgage Lender) under its Powers of Sale

A form C restriction will be cancelled automatically on registration of either:
- an assent by a personal representative in form AS1 or AS3
- a transfer on sale by a personal representative, when a certificate or statutory declaration has been provided in accordance with the terms of the restriction, or
- a transfer by a registered chargee (Mortgage Lender) under its Powers of Sale

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

. . continued on page 12 (Property Lawyers and Conveyancing Solicitors in Manchester - Transfer, Equity and Trusts of Land page 12)

Please telephone Paul on 0161 866 8999 if you require any further information.

Ford Banks Irwin Solicitors
50 Stothard Road
Stretford
Manchester
M32 9HB

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Manchester Conveyancing Solicitors | Ford Banks Irwin Solicitors - The Property Lawyers in Manchester on Transfer, Equity and Trusts of Land