Reanne Upton, Associate in the Higgs LLP Dispute Resolution and Litigation team, urges landlords and tenants to make registering leases with Land Registry a top priority.
Pursuant to the Land Registration Act 2002, leases granted on or after October 13 2003 for a term of more than seven years, or with at least seven years of its term left to run (if granted pre October 13 2003), are registerable at the Land Registry.
However, the reality is that not all such leases are registered, especially where solicitors are not involved in the completion process.
Whether it be an innocent mistake, that task that repeatedly gets put to the bottom of the to-do list or is deliberately dismissed as being ‘another unnecessary formality’, many landlords and tenants underestimate the importance of registration and fail to foresee the potential adverse effects it can have down the line. For example:
All of the above can be circumvented by prioritising the registration of a lease as soon as it completes or as soon as you become aware of its unregistered status.
If this article encourages one thing it would be for any prudent landlord and/or tenant to undertake a quick review of its lease(s), ensure they are registered and arrange for this to be done forthwith if not.
If you have any queries or require assistance with any matter addressed in this article you can contact Reanne Upton in our Dispute Resolution department on 01384 327 164 or Maria Nicol in our Property department on 01384 327 318.
Higgs LLP is authorised and regulated by the Solicitors Regulation Authority number 819589.