Until now, the general approach has been that a company cannot claim privilege against its own...
As of September 2019, 87% of land in England and Wales is registered. However, a small number of properties remain unregistered.
If you decide to purchase unregistered land, there will be special considerations that apply in comparison to buying previously registered land. This is because there is no pre-existing register to consult. The solicitor will need to review the historic property deed to trace the ‘root of title’.
The solicitor will want to ensure that the root of title is ‘good’. This usually means tracing the ownership of the property back to the last 15 years and ensuring that you are buying from a rightful legal owner. Proving a good root is essential in order for the Land Registry to award an ‘absolute title’ upon registration.
It may also be necessary to look beyond the previous 15 years ownership to check that no encumbrances exist that bind the title, for example any restrictive covenants that bind the land.
There will also be additional searches that will need to be undertaken, that are not required for registered land. One of these searches is a Land Charges Search, where the names of the previous legal owners will be searched for any encumbrances or bankruptcies that have occurred during their period of ownership.
If you would like any further information or advice in relation to buying or selling a property, please contact us on 01384 410 410 or send an email to residentialconveyancing@georgegreen.co.uk. You can also get a free quote by using our conveyancing quote tool on our website.