The Proprietorship Register Flashcards
What is the Proprietorship register?
Gives the registered proprietor’s (owner’s) name and address, the class of title and entries affecting ownership
What does class of title show?
Indicates how satisfied the Land Registry is with the registered proprietor’s proof of ownership to the property.
Why is class of title important?
The Land Registry guarantees its titles with compensation, so the class of title is important.
What are the different classes of title (best to worst)?
• Title absolute (freehold and leasehold)
• Qualified title (freehold and leasehold)
• Possessory title (freehold and leasehold)
• Good leasehold title (leasehold only)
What is title absolute?
Best and common – no issues
What is qualified title?
Defect in title – e.g. deed known to contain covenants / easements missing on first registration
What is possessory title?
No title deeds or is claiming through adverse possession
What is good leasehold title?
When leaseholder cannot provide evidence of landlord’s title
• Can often be upgraded if landlord’s title has been since registered from grant of lease
When is no action needed re title?
If title absolute, no action needed.
What action is needed if not title absolute?
- Report to client and explain meaning
- Check mortgage requirements
- Consider title indemnity insurance
- Consider upgrading title if missing documents can be located
Who is registered proprietor? When are they not? How many max?
Seller is usually registered proprietor. Exception if the executor of a probate property.
Maximum 4 legal persons.
What other matters recorded on proprietorship register?
- Price paid if acquired after 1 April 2000 (limited exceptions)
- If registered proprietor gave indemnity covenant to transferor
- Any restrictions on right to sell
