Wyre Forest solicitor issues paperwork alert to homeowners
A Wyre Forest conveyancing specialist has warned homeowners with unregistered property to consider voluntary registration with the Land Registry over the risk of facing severe delays and additional costs on property sales where deeds have been lost.
The warning comes from Licensed Conveyancer, Hayley Pearce, who says that over the past six months she has been instructed on a handful of unregistered property sales with missing deeds, resulting in delays, extra costs and a less marketable properties.
Ms Pearce, an associate at Kidderminster law firm mfg Solicitors, said that if properties aren’t registered with the Land Registry, having your deeds available is vital for a smooth sale.
She said: “Over recent months I’ve seen examples here in the Wyre Forest where those trying to sell their homes have misplaced their deeds, making for an unnecessarily stressful time.
“Aside from the time and cost issues this can cause, what sellers don’t realise is that where insufficient evidence of ownership of the property cannot be provided, the Land Registry will register with possessory title – something which can give buyers scope to request a price reduction on the basis a possessory title can be challenged.”
Ms Pearce says there are a number of benefits to voluntarily registering a property with the Land Registry, other than ensuring your deeds are safe.
She added: “It almost goes without saying that registered land is quicker and easier to deal with as the Land Registry recite the relevant information within the registers of title – making a sale or remortgaging process smoother.
“Unregistered land is also at a higher risk of fraud. By registering a property, in the event a third party were to claim an interest over the property, the Land Registry would serve notice on the owner which gives an opportunity for an objection to be raised.
“Overall, keeping all paperwork for a home is absolutely key. It stops so many delays and can reduce significant stress, costs and confusion.”
Readers looking for further information or advice around property deeds or dealing with the Land Registry, can contact Hayley through hayley.pearce@mfgsolicitors.com, or call 01584 873156.
