Post-completion Flashcards
When must a charge be registered at Companies House?
Within 21 days starting the day after the creation of the charge
What happens if the charge registration deadline is missed?
The charge is void against any liquidator or administrator
The deadline is strict with no discretion to extend; application to court is required for late filing.
Do the registration rules for charges apply to individuals?
No
What form is used for registering a registered title at the Land Registry?
Form AP1
What documents must be included with Form AP1?
- The transfer deed (TR1)
- SDLT5 or WRA certificate
- Form DS1 to discharge S’s mortgage if appropriate
- Mortgage deed in favor of B’s lender
- Certificate of registration of charge at Companies House
- Other documents as appropriate (e.g. Death certificate)
What is required when registereing previously unregistered title?
Use form FR1
What is included with the FR1?
- Same docs as Reigstered Titlte
- Epitome of title and deeds and docs referred to in it
- Land charges serach for the seller and previous owners in the chain of title
What must be stated regarding overriding interests in the application?
There are no overriding interests or complete a Form DI
How should the land registry application be submitted?
Use the land registry portal - this is NOT available for first registry. Must use post/DX
What else must be sent to the land registry on first registration?
- Send original mortgage deed to lender and certified copy to LR
- Keep og transfer deed - copy to LR
Certified copy = copy that has been stamped and signed by a solicitor
What happens if the application is not submitted within 30 working days of B’s solicitor’s OS1 search?
Priority will be lost
A new OS1 search can be started, but this will initiate a new priority period.
What is the deadline for registering the transfer of registered land?
No deadline other than time limit for priority under OS1
What is the deadline for registering unregistered land after transfer?
2 months - application can be made to the LR to extend this period
What is the typical processing time for a transfer of registered land?
Usually within a couple of weeks
Provided there are no requisitions.
How long can the processing take for unregistered land?
Can be several months
What documents will the Land Registry issue after processing?
New official copies showing buyer as registered proprietor and lender as proprietor by legal charge
This is accompanied by a Title Information Document (TID) and the title is in the electronic registers.
When must SDLT be submitted and paid?
Within 14 days of completion
When must LTT be paid?
Within 30 days of completion
What does the buyer’s solicitor receive on submitting SDLT/LTT?
SDLT - SDLT5 certificate
LTT - WRA certificate
