Registering a Lease
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28 February 2009
Registering the Lease and the
correct Forms to use for registration purposes
is important from the outset to recognise whether the Lease is
registered or needs to be registered, in order to identify the
appropriate form that needs to be used.
If the lease
has a registered title, then the form of Assignment (AS1 or AS2) is not
appropriate - instead the Land Registry Form TR1 should be used. It is
likely to have a registered title only if the lease was originally
granted before 13th October 2003 and was for a term of more than 21
years, or after 13th October 2003 and was for a term of more than 7
years. If the lease is unregistered but there is more than 7 years
remaining on the lease then remember that it will is compulsory that it
is registered at HM Land Registry - Lawdit Solicitors can deal with
this aspect for you.
If you transfer an existing registered
lease then this transaction needs to be registered at the Land Registry
using Form AP1.
an existing unregistered lease with a term of more than 7 years
remaining is transferred / assigned then this needs to be registered at
the Land Registry using Form FR1 - i.e. first registration of the Lease.
either party to the transaction is not represented by a solicitor or
licensed conveyancer then the Land Registry will require evidence of
identity for that unrepresented person - this is dealt by in the Form
The Assignee (purchaser) will need to
Land Transaction Return (Form SDLT1) to the Inland Revenue following
completion of the Assignment. There will only be Stamp Duty Land Tax to
pay if the price paid for the assignment is more than
and there is annual rent payable more than £1,000
the property is not residential) - but even when there is no duty to
pay a return generally has to be sent in - please see <http://www.hmrc.gov.uk/so/sdlt/index.htm#1>
for more information.
further security is required against performance of the tenants
obligations then the landlord may wish to consider taking a Rent
Deposit. This is dealt with by a Rent Deposit Deed.
- leases are substantial and often complex documents. If you have any
doubts you should consult one of our specialist Solicitors, who can
give you clear and thorough advice on the best way to deal with the
assignment and we can also deal with the registration of the Lease with
the Land Registry for you.
is a Solicitor at Lawdit, specialising in Commercial and Intellectual
Property Law, and can be contacted via email: firstname.lastname@example.org
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Article Published/Sorted/Amended on Scopulus 2009-03-08 15:33:09 in Legal Articles