Help in understanding a property register please

DrPepper123

Hi

Looking at buying a property and have downloaded the title register from the land registry. A few things I don't understand.

It has a valuation of the property dated July 2003, what is the relevance of this date as I was made aware the owner has been there for some 15 years, anything to do with the below?

This register contains any charges and other matters that affect the land.
1 (31.07.2006) REGISTERED CHARGE dated 12 July 2006.

2 (04.02.2010) Proprietor: SANTANDER UK PLC

Finally what does the below mean?

(06.07.1998) The mines and minerals together with ancillary powers of working are excepted with provision for compensation in the event of damage caused thereby.

Thanks in advance

G_M

The Land Registry Title does NOT provide valuations. It does sometimes show the last price paid and date of transfer.

What exactly does it say about July 2003? Does it use the word 'valuation'? I ask because I wonder ig you downloaded form a 3rd party site rather than the official site (which charges a £3 fee).

There is a mortgage on the property. Lender is Santander. Perfectly normal. This should be paid off when you buy.

You will not own the stuff underground. If whoever owns it damages your property in the course of mining, you will be compensated.

DrPepper123

Thanks GM. I have purchased this from the offical site.

I too thought they did not provide valutions but only price paid as you have suggested, but it does clearly state at the very top with the address etc. Value Stated and then again further down as per below:

B: Proprietorship Register
This register specifies the class of title and identifies the owner. It contains any entries that affect the right of disposal.
Title absolute

1 (11.07.2003) PROPRIETOR: Name & address.....


2 (11.07.2003) The value stated as at 11 July 2003

G_M

That is the value of the sale.

In 2003 the proprietor purchased the property and paid ....

DrPepper123

Great thanks for that.

Land_Registry

I would agree with G_M with regards the Charge entry and mines & minerals.

However the wording of entries regarding the price paid or value of properties on a certain date will vary depending on the specific circumstances - as such there may be another possibility to the one suggested by G_M

If a property is sold and the purchase price (consideration) is shown in the purchase deed (Transfer) then the entry would normally be
The price stated to have been paid on DD/MM/YYYY was £Y

If an entry is made which refers to the 'value' as mentioned above then it is very likely that there was a change of ownership which was not a sale e.g. Transfer by one person to two but not on sale or for a purchase price. In such cases a 'value stated' entry is made to reflect the stated value provided by the applicant and on which we have assessed the registration fee for example.

One example of where such an entry could appear is that the owner for the past 15 years may have married and then transferred the property from his/her sole name into their joint names.

Our Practice Guide 7 explains how and why such entries are made and section 5 explains the 'value' entry in more detail

G_M

Thanks for the correction LR Rep!

DrPepper123

Land_Registry_representative wrote: »

I would agree with G_M with regards the Charge entry and mines & minerals.

However the wording of entries regarding the price paid or value of properties on a certain date will vary depending on the specific circumstances - as such there may be another possibility to the one suggested by G_M

If a property is sold and the purchase price (consideration) is shown in the purchase deed (Transfer) then the entry would normally be
The price stated to have been paid on DD/MM/YYYY was £Y

If an entry is made which refers to the 'value' as mentioned above then it is very likely that there was a change of ownership which was not a sale e.g. Transfer by one person to two but not on sale or for a purchase price. In such cases a 'value stated' entry is made to reflect the stated value provided by the applicant and on which we have assessed the registration fee for example.

One example of where such an entry could appear is that the owner for the past 15 years may have married and then transferred the property from his/her sole name into their joint names.

Our Practice Guide 7 explains how and why such entries are made and section 5 explains the 'value' entry in more detail

that does make sense about the transfer, so thanks very much for the information.

Land_Registry

G_M wrote: »

Thanks for the correction LR Rep!

Not quite a correction G_M but more of a clarification

Spot on that we don't provide valuations on the register but we have to reflect what someone else may have valued it at as and when appropriate, as per my example.

The 11 July 2003 date in brackets is the date on which the application was received at Land Registry.

The 'as at' date is the date of the actual deed which changed the ownership e.g. TR1 (Transfer)

It is rare for the two dates to be the same but it can happen e.g. when an application is completed, the TR1 executed and then lodged at Land Registry all on the same day