First registration-Land Registry- Help

Scand_Noir

Hi
I would be so grateful if anyone has legal knowledge or personal experience re this topic.
My dad died a few months ago and we are just getting round to putting his property on the market. Awaiting probate and know we can't proceed without it, but market is so slow I'm sure we'll have it by the time anyone makes an offer.

Gathering deeds and papers etc, I've discovered that the property is not registered with the land registry, not surprising as parents lived there for 50 years.
I'm trying to get a solicitor lined up and ready for when we have a sale, and also need them to vary the will next year, so have been exchanging emails with a couple to get quotes etc.
I have had two directly opposing pieces of advice, issued quite firmly, and so I'm going to ask on here if anyone can give me any insight.

Solicitor1 strongly suggests we apply now to do first registration of the property either as executors or as individuals ( me and sibling) as says many purchasers and or mortgage companies will shy away from an unregistered property.

Solicitor 2 would firmly advise us to wait until we have a sale and try and get the new owners to register it, or at least register it ourselves then, as this can be expedited under a Memorandum of Sale and can be done in a few weeks. Otherwise he suggests it could take months or even YEARS to do without a sale.

So, 2 lots of opposing professional advice...what's best?

p00hsticks

there is an official Land Registry representative who frequents this forum woh may have some advice

Calling @Land_Registry

Yorkie1

While waiting for the LR rep to find this thread,

https://forums.moneysavingexpert.com/discussion/6676092/property-not-on-land-registry

may illustrate some of the points of view.

Legally, I think either route is viable.

Land_Registry

As posted either route is viable so no wrong advice given and doubtless given on the solicitor's own experience re similar cases previously.

I recognise the first scenario in modern times whilst the second one was often the way when more properties were unregistered and solicitors, and more importantly, lenders had a different view as to the perceived risks associated with unregistered properties.

My advice nowadays is that once you have probate and you have all the deeds apply to have it registered first. If you find a buyer you can then request expedite to reduce any remaining wait time. Such applications don't take years to complete but can wait 9 months on (current) average before processing starts. And processing is often done same day. But if there's an issue with the quality of the application as a whole and we need more then the wait time can be extended by a few months.

In both cases the option to expedite exists if there's a buyer and current odds are that a buyer with a mortgage will find the lender insisting it's registered before they complete.

Scand_Noir

@Land_Registry thank you so much for answering. I'm afraid I have a few more questions if you are able to advise further.

1. If we start the process of first registration now as you have recommended then can we do this as executors of my father's will. Neither of us want to get into the issues of theoretically owning a second property and being possibly liable for CGT for example.
2. If we get a buyer in the next month or so, is the application for expediting sure to be accepted, and can a sale go through if the property is not registered or in limbo?

Appreciate the help.

EssexHebridean

There is no reason why anyone should be running scared of an unregistered property so long as all the documentation needed for the First Reg is in order. That aspect is something that the buyer's solicitor will check in the course of the transaction, but yours will also be wanting to make sure of it too to avoid any unnecessary enquiries and/or pitfalls later in the transaction.

If you did go through the process of registering once you have a buyer, then I would be astonished if the expedite application was not accepted on that basis. Generally once an expedite is in place things more very fast indeed - I'd be surprised if it didn't outstrip the rest of the conveyancing process!

Land_Registry

If there is a confirmed linked and dependent transaction, which is what a sale/purchase would be, then expedition is not going to be refused.

It's not generally an issue of being 'scared' re unregistered titles/property but a simple case of the modern ways and computer algorithms where certain mortgage products, not all but many, enforce the risk-profile lenders associate with unregistered over registered properties.

Too easy to suggest 'computer says No' but in essence that's what happens but the lender has still decided on the algorithm for products A, B and C for example to help streamline the mortgage product/offer process.

Far better, in you scenario and in my view based solely on the experience of dealing with others in similar scenarios and what they have chosen to do, to get probate and then look at registering yourselves in your roles as personal reps/executors. Your conveyancer can advise you on what that means in wider terms especially re multiple home ownership and tax

We deal with the outcome of such option consideration and decision-making so are not the ones to say you should do one or the other.

Scand_Noir

Thank you everyone for your comments. We've decided to apply for 1st registration as soon as the probate comes through.

Seems like the most sensible way forward.

FreeBear

https://forums.moneysavingexpert.com/discussion/comment/82086919#Comment_82086919

If you have the deeds along with a pile of conveyancing documents demonstrating a clear line of ownership, it is not that difficult to do the first registration yourself.

I had to do a (compulsory) first registration when I took over the family estate. Various solicitors & conveyancing outfits were quoting £600 or more (~10 years ago) plus disbursements - They were wanting to do a full gamut of searches which I considered totally unnecessary. Sorted out the documents in chronological order, filled out the forms, and submitted the paperwork. Only cost to me was the Land Registry fees.