Production of your “Title Deeds” has long been accepted as proof of ownership of property. In the past, prior to any centralised record of property ownership, safekeeping of these Deeds was vital to ensure you could successfully sell, transfer or otherwise change the ownership of your property.
However, since the late 1980s it has become compulsory to register your ownership with HM Land Registry upon most types of disposition of a property. This means any transaction (for example sales, purchases, re-mortgages and some leases) will be lodged with HM Land Registry to update their registers.
You may also register your property voluntarily at any time, and the advantages of doing so are numerous:-
- Your Deeds will be safely registered and stored, allowing quick and easy access when required.
- Production of evidence of your ownership can be achieved by your solicitor in a matter of minutes online, saving the expense of storing and retrieving the hard copies.
- Fees payable to HM Land Registry are substantially cheaper if you register voluntarily rather than wait for a compulsory disposition.
- Conveyancing transactions may be quicker, cheaper and less stressful if your solicitor can produce HM Land Registry Official Copies to the buyers.
- The initial cost of voluntarily registering your property may far outweigh the later costs in a sale or transfer requiring evidence of ownership and compulsory first registration.
For more information on how to register your property please call us on 020 8505 4777 to arrange a free initial consultation.