Paper Topic:

UK LAND LAW - LAND REGISTRATION ACT 2002

UK LAND LAW - LAND REGISTRATION ACT 2002

2006

INTRODUCTION

The Land Registration Act 2002 , which is the outcome of several years joint work by the Law Commission and the Land Registry , has been described as potentially more far-reaching than the great property reforms affected by the 1925 legislation (Bogusz , 2002 . Under the LRA 2002 compulsory registration will be triggered by : A land transfer by sale , gift , and court or assent . The creation of a protected legal first mortgage the grant or assignment of a lease of seven years or more

and the grant of a lease which takes effect more than three months after the date it is granted . An important change is introduction of a new system in relation to adverse possession for registered land . The effect of this new regime will make registered land virtually squatter-proof and clients owning unregistered properties are advised to consider applying to the Land Registry for voluntary registration to take advantage of this

GENERAL DISCUSSION

The Act paves the way for the introduction of electronic conveyancing to replace the traditional -based procedure as we discussed in a previous edition and replaces all existing legislation relating to land registration with the aim of exploiting the potential of an electronic system and eliminating defects in the present law (Thompson , 2003 There are also several important changes to property law in general

The number of dispositions and interests capable of registration is increased with the aim of providing as complete a picture on the register as possible . Matters capable of registration will now include all leases of 7 years or more leases of any length granted to take effect in possession more than 3 months after the date of grant local land charges some overriding interests e .g . rights of occupation easements acquired by implied grant or prescription profits for instance fishing and shooting rights land owned directly by the Crown (demesne land ) which includes most of the foreshore and franchises e .g the right to hold a fair or market (Pollock , 2005 . Of the above , the compulsory requirement to register leases of 7 years or more is likely to have the biggest impact in practice and in time it is probable that there will be compulsory registration of leases of 3 years and over Dealings with leases are the most common type of property transaction and this new requirement has attracted criticism , as it will inevitably involve more bureaucracy and increased costs . Conversely , the Government 's view is that the advantage of a more transparent system will outweigh the extra work and expense

In line with the Act 's objective that the Register should show a full picture of any registered title , the number of overriding interests , to which property is subject to , will be reduced and some are to lose their overriding status after 10 years (Thomas , 2005 . For the first time overriding interests are to be treated differently on first registration and on subsequent dealings . The stated aim of The Land Registry...

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