HMLR offers additional protection for rental property owners
The Land Registry has introduced a new form “Request for a restriction by owner(s) not living at the property” as an additional security measure aimed at owners who do not live at the registered property. This will initially be trialled for six months.
Under this measure property owners can make a request using a specific Land Registry form, asking the Registrar to enter a restriction. The form enables a property owner to make a request for a restriction to be placed in the register of the title to the property.
Owner occupiers who do not qualify to request a restriction in this way can still apply for restriction in their register but have to apply using a different form.
Land Registry has created a special restriction for those who believe they may be at risk. This restriction makes sure that they will not register a sale or a mortgage, unless a solicitor or other conveyancer has certified that the person who has signed the deed is the registered owner. This could help to prevent a fraudster forging a signature.
The wording of a restriction is very important and you should seek legal advice if you wish to protect your property in this way.
For more detail about the process, and to understand what a restriction means, please contact WilliamMarriott@meadowsfraser.com