Since the 1925 Land Registration Act in the UK, which was replaced by an updated Land Registration Act in 2002, it’s been compulsory to register unregistered property and land. However, according to the HM Land Registry, there is still 14% of land in the UK that remains unregistered or unclaimed.
With the new school year now underway, Richard Werth, CEO of Troy Homes has taken a look at the impact that ‘outstanding’ Ofsted rated schools have on house prices. According to data from the Land Registry, Department of Education and Ofsted, the connection between family sized homes and proximity to
BDC 319 : Aug 2024
Since the 1925 Land Registration Act in the UK, which was replaced by an updated Land Registration Act in 2002, it’s been compulsory to register unregistered property and land. However, according to the HM Land Registry, there is still 14% of land in the UK that remains unregistered or unclaimed. Along with complying with the law, there are numerous benefits to registering land. But, firstly, let’s discuss how you go through the process of registering unregistered land in the first place. What is an unregistered property? This could be land or a building such as a house, garage or even something as small as a shed. Basically, it’s any property that is legally owned but is yet to be registered with the Land Registry in the true owner’s name. The owner will usually have Title Deeds that explain how they came to own the property. But simply having these Title Deeds doesn’t mean the property is registered, so to reap the benefits of having a registered property and to protect it from encroachment by others, it’s advised that you register the land as soon as you can. The two ways of registering unregistered property There are two types of registration, compulsory and voluntary. Here’s what you need to know about both. Compulsory registration Since 1925, a property that is ‘dealt with’ has the change of ownership officially registered and the new owner will receive a Title Register and Title Plan to confirm their ownership of the property. But what does ‘dealt with’ actually mean? It means that some activity has happened with the property that will trigger the compulsory registration. Some of these activities are as follows: A new lease of 7 years or over is granted. The first legal mortgage on an unregistered property is granted. A Freehold Estate is transferred in a sale of purchase. A Leasehold Estate is transferred with over 7 years remaining (this is known as assignment). In all these cases, it’s a legal requirement for the land or property to be compulsorily registered. You can do this by registering online with the HM Land Registry Voluntary registration You don’t have to wait for the property to become ‘dealt with’ in order to register it. You can simply make a voluntary first registration application in the same place where you would compulsory register it. While you can do this yourself, you can also instruct a land registry solicitor to do it if you want to make sure everything is done smoothly and legally. The solicitor can take your Title Deeds to find out how you came to own the property and submit an application to the Land Registry on your behalf, passing a copy of the Title Register onto you.
With the new school year now underway, Richard Werth, CEO of Troy Homes has taken a look at the impact that ‘outstanding’ Ofsted rated schools have on house prices. According to data from the Land Registry, Department of Education and Ofsted, the connection between family sized homes and proximity to a school with an ‘outstanding’ Ofsted rating (state or private; primary or secondary) can be as much as 28% and, even at the extremities of the schools’ catchment areas, it can remain around 20%. Given that some schools’ catchment areas can span 20 miles in each direction from the school’s gates, an Ofsted ‘outstanding’ rating can affect a huge swathe of property. Whilst living within a school’s catchment area does not guarantee a place, it certainly helps. For example, living within the catchment area of a Grammar School is often essential to securing a place. The premium for homes within 5 miles of popular private schools is often much higher than 28% – particularly in University cities where demand outstrips supply. So, as there is usually no formal catchment area, there is a temptation to live further away from the school. But, it is worth bearing in mind that if you live 10-15 miles west of the school, then your child’s best friend could easily live the same distance to the east of the school, making sleepovers and parties very complicated! Choosing the right schools is highly individual and can change as your children develop. It can be a complex and daunting process but, in the end, it very often comes down to ‘gut feel’ – you just know when you have connected with staff, students and atmosphere and if it just feels right. Buying to be in a catchment area is one thing, but the family home still has to meet the demands of all the family’s lives. Affordability, design, layout, size, commute, local facilities are just a few of the criteria that should be considered; after all, life outside school is just as important. But, for everyone’s benefit, the shorter the school run, the better.
