Property PSL
The Land Registry says on its website that it is “exploring the possibility of widening its range of information services to include searches of the Local Land Charges Register and other information currently supplied by local authorities.” It is conducting market research in order to consider a business case for this extension of services by the end of June 2011.
This month’s CPI Update includes an item in relation to private sector prevention against property fraud in the form of the Gatekeeper Protection Service. See Protect Your Property.
The Land Registry comments on its website that “Land Registry is aware of third parties offering title theft protection services. One of these has directly referred to Land Registry on their website and in their publicity material. Land Registry has no direct association or involvement with such websites/publicity and we are considering what action we need to take (if any) in order to safeguard our reputation and protect our customers.” Perhaps introduce […]
The RICS is currently consulting its members on a new draft service charge code of practice: Service Charges in Commercial Property which will replace the previous edition of the code of practice: Service Charges in Commercial Property: RICS Code of Practice issued in 2006. The consultation closes on 21 January 2011. The results of the consultation are to be published by 1 May 2011.
The Law Society has published a practice note – Deposit protection for client accounts (23 December 2010) – advising solicitors of their rights and liabilities in respect of funds held on behalf of clients in the event of the collapse of an authorised deposit-taking institution. Recent changes to UK legislation have brought about an increase in the compensation limit for eligible claimants in the event of failure of a deposit-taking institution. As from 1 January 2011, the amount the Government’s Financial Services Compensation Scheme can pay out in compensation has increased from £50,000 to £85,000
This practice note appears (without […]
Planning Policy Guidance 13 (PPG13), which sets out the Government’s policy objectives for the integration of planning matters and transport at all levels, and for the promotion of sustainable transport choices, both for people and for freight transportation, has been updated (updating PPG 13 published on 20 April 2001). The update reflects changes to parking standards introduced by the Government (i.e. the levels of parking allowed in association with new development, now set out in Appendix D of PPG 13, and to be applied by planning authorities as a maximum throughout England) and changes in relation to parking charges […]
Click on Online CPD to see a wide range of property seminars for the first half of 2011.
The Land Registry has published a consultation paper seeking practitioner views on proposed changes to the Land Registration (Network Access) Rules 2008, the Land Registration Rules 2003 and the Land Registration (Proper Office) Order 2010. Changes are proposed because of the forthcoming changes to the regulation of those carrying out legal activities, and the introduction, later next year, of alternative business structures under the Legal Services Act 2007. At the heart of the proposals is the need to allow an “authorised person” (as defined by section 18 of the Legal Services Act 2007), to carry out the land registration work […]
The North East Property Buyers Ltd Litigation case – [2010] EWHC 2991 (Ch) – involving an alleged sale and leaseback fraud is an interesting decision: it determines that the rights of several allegedly defrauded sellers, arising out of promises made by the buyer to grant leases back of the properties sold, did not arise in the scintilla of time between the sale and contemporaneous mortgage of the properties, but instead ranked in priority behind the mortgagees’ interests and thus did not bind the mortgagees. The case asserts that the county court case of Redstone Mortgages plc v Welch [2009] 36 […]
The Government has confirmed its intention to continue with Community Infrastructure Levy as a means of funding infrastructure provision. CIL was introduced by the Labour Government in April 2010. The Coalition states that it will be continued “because it provides a fairer system to fund new infrastructure. The levy will give councils the option to raise funds from developers building new projects in their area, and provide a more certain and flexible system for housebuilders, cutting the costs of lengthy legal negotiations.” (Greg Clark, Decentralisation Minister, 18 November). The Government’s announcement says that CIL will be reformed to ensure that […]
Following changes to CRC announced by the Government (see CRC – Complete Re-think Commitment) the DECC has published a consultation paper primarily focused on extending the introductory phase of CRC and postponing the first sale of allowances in phase two of CRC. The deadline for responses to the consultation is 17 December 2010.
All that thinking about how to deal with CRC in commercial leases, and then along comes the HM Treasury Spending Review. See paragraph 2.108: “The CRC Energy Efficiency scheme will be simplified to reduce the burden on businesses, with the first allowance sales for 2011-12 emissions now taking place in 2012 rather than 2011. Revenues from allowance sales totalling £1 billion a year by 2014-15 will be used to support the public finances, including spending on the environment, rather than recycled to participants. Further decisions on allowance sales are a matter for the Budget process.” So, there will be a […]
The Law Society, in collaboration with the Land Registry, has issued a practice note on Property and Registration Fraud. This practice note sits alongside the current Law Society practice note on Mortgage Fraud, both of which are essential reading for all property lawyers. Perhaps with prescience (or just advance knowledge) the Property and Registration Fraud practice notes says, at paragraph 2.1.1: “There have been instances where fraudulent applications have been made to Land Registry by fraudsters impersonating legitimate firms of solicitors by using forged headed paper, faxes and emails.” Paragraph 2.1.2 says “Web sites have been fraudulently set up purporting […]
As part of the review of Government spending, the Land Registry reports that officials in the Ministry of Justice have been asked to undertake a feasibility study on the Land Registry to “scope out the opportunities presented by private sector investment.” See Feasibility Study regarding Land Registry. The official line from the Cabinet Office announcement was: “HM Land Registry: Retain and substantially reform – Retain on the grounds of transparency – but Government will undertake a feasibility study to scope out the opportunities presented by private sector investment.” The Land Registry announcement says that: “A number of options will be […]
The Competition Act 1998 (Land Agreements Exclusion Revocation) Order 2010 revokes The Competition Act 1998 (Land Agreements Exclusion and Revocation) Order 2004 (SI 2004/1260) with effect from April 6, 2011.
The OFT has today published draft guidance for businesses about the types of land agreements that might fall foul of competition law. The guidance will assist businesses in the self-assessment of their agreements. Click on Land Agreements Guidance consultation. Consultation on this draft guidance runs until 14 January 2011.
After much deliberation, HMRC has decided on its approach, in the light of the forthcoming VAT rate change on 4 January 2011, to the assessment of SDLT lease duty where the lease is subject to VAT. See Treatment of VAT changes when calculating net present value (NPV) of rent for Stamp Duty Land Tax.
SDLT is, of course, chargeable upon any VAT payable by a buyer or tenant in respect of the land transaction. For leases granted since the VAT rate change had legal force on 27 July (the date section 3 Finance (No.2) Act 2010 came into force), the […]
London/Manchester law firm Field Fisher Waterhouse LLP is carrying an interesting VAT bulletin on its website: Act now to recover VAT on service charges where your landlord has not opted to tax. In it, the firm discloses that it is challenging, for its own benefit, the Revenue’s view of the ECJ decision in RLRE Tellmer Property (Case C-572/07). In commercial leases, the VAT treatment of service charges has always followed the VAT treatment of the rent, so that, if the landlord has not opted to tax the rent, the service charge remains exempt from VAT (meaning, unfortunately for tenants, that […]
First Title have introduced a Home Owners’ Protection Policy. It is for the residential market. It covers the client against matters the conveyancer might reasonably not have been able to discover or foresee. Click on Home Owners’ Protection Policy. Providing full title and conveyancing insurance cover for a buyer or mortgagee is an Americanised approach to conveyancing, but one that is steadily coming this way. First Title’s literature says that its policy “offers greater protection to a client than Professional Indemnity Insurance (PII), and allows consumers to claim on a ‘no fault’ policy, therefore removing the need for a client […]
Today’s Guardian reports on “a template for a contract that will deter buyers and sellers from welching on the deal before it reaches the point of exchange” – see Homebuying: A contract to keep the gazumpers from your door. The idea is promoted by The E-Homebuying Forum. According to The Guardian’s article, such a contract would require both parties to proceed at the agreed price unless, for example “the property were found to be suffering subsidence, [in which case] the contract would become nullified. But if the market suddenly dropped and the buyer wanted to reduce the price, the contract […]