Island Life Magazine Ltd April/May 2012 | Page 40

Legal issues with Terence Willey & Company The value of land registration The Land Registration Act 1925 came into operation on January 1, 1926 as part of the real property legislation of that year. It repealed the Acts of 1875 and 1897 and although it described itself merely as “an Act to consolidate the Land Transfer Acts and the statute law relating to registered land”, this in fact disguises that it brought into being some radical changes that were originally contained in the transitional legislation of 1922 and 1924 when it was re-acted. All importantly, the 1925 Act brought into place land registration as it so applies to England and Wales today. Scotland is expressly excluded as being a Register of Deeds known as the Register of Sasines, but now a system of registration of title on a gradual scale. This is based, in general principle, on the English system, but account has to be taken of the different law of "real" property in Scotland. Northern Ireland also has a system of registration of title first introduced in 1981 by an Act as part of a policy of agrarian reform known as the Land Purchase Scheme. The benefits of o wning a registered title far outweigh that of possessing deeds that are not yet registered, but registration provides finality and certainty by way of an up-to-date official record of land ownership. It eliminates the need for deduction by the seller and examination by the purchase of the proof of ownership originating from a satisfactory root of title at least 15 years old as is necessary 40 on each successive transaction with unregistered land. The declared objects of the system of registration of title were stated in the preamble to the original Statute under which it had in its origin in this Country in these words ‘whereas it is expedient to give certainty to the title to real estates and to facilitate thereof and also to render the dealing with land more simple and economical’. The Isle of Wight did not become an area of compulsory registration until 1986, effectively meaning that when properties changed hands there was no necessity to register and individuals and mortgagees would simply hold deeds and, in some cases, large bundles, with the obvious risk of loss or destruction, leaving the owner of the property without proof of title. I continually assist clients with first registration so that they are given the peace of mind that they will not leave their relatives with possible problems upon death. Our Practice is always willing to spend time with clients and, without obligation in the first instance, to discuss bringing titles into First Registration. The cost of such which in the longer term will certainly provide to be well spent! Terence Willey & Company, Lawyers and Commissioners for Oaths (incorporating Malcolm Daniells & Company and The Bembridge Law Practice) Terence Willey 01983 875859 Mark Willey 01983 611888 www.terencewilley.co.uk