Land Registry is conducting a consultation on the presentation of prescribed information in registrable leases.
The Registry is looking to standardise lease information, in order to streamline the registration process. With the implementation of registration of leases of more than seven years, the number of compulsory registrations of leases is set to rise.
Two methods of presenting the prescribed information at the front of registrable leases are being proposed; (i) the introduction of a new form L1 as a front sheet and (ii) prescribed clauses.
The new form L1 would contain all the information that normally appears on the front sheet to a lease and any items that Land Registry need to enter in the register.
The prescribed clauses would elicit the same information by prescribing the form and content of the front part of the lease.
The consultation period commenced on Friday, 17 September 2004, and ends on 10 December 2004. Click here for the Land Registry consultations page and here for the downloadable pdf of the document.
References: EGi Legal News 21/09/2004
