New this month...


HMRC – LLC1 data transfer

May 2022 | Conveyancing

We reported as recently as November 2021 (p21) on the objective of the transfer to HMLR of the LLC1 data held by local authorities. Note that a further five local authorities have joined the register, bringing the total number to 39: City and County of Swansea Council – the first of 22 Welsh local authorities …

This article is only available to subscribers.

Restriction – form II

May 2022 | Conveyancing

Conveyancers may be unaware of the potentially useful form II restriction which states as follows: Form II (Beneficial interest that is a right or claim in relation to a registered estate) No disposition of the registered estate, other than a disposition by the proprietor of any registered charge registered before the entry of this restriction, …

This article is only available to subscribers.

HMLR – form RXC update

May 2022 | Conveyancing

Dealing with restrictions is the bane of many conveyancers’ lives, in particular management company restrictions on leasehold titles. Accordingly, the introduction by HMLR of form RXC is a welcome attempt to try to assist. We reported in our September 2021 (p9) and Dec/Jan 2022 (p6) editions on the introduction to the form and the changes …

This article is only available to subscribers.

HMLR – electronic signatures

May 2022 | Conveyancing

HMLR has removed the content regarding electronic signatures from PG8 and has created a new Practice Guide – PG82: electronic signatures accepted by HMLR. PG82 reaffirms HMLR’s acceptance of deeds signed using the Mercury signature process. It has renamed what it formally described as witnessed electronic signatures to conveyancer-certified electronic signatures. The significance of both …

This article is only available to subscribers.

HMLR – application timeframes

May 2022 | Conveyancing

It will probably be of little comfort to conveyancers faced with regular requests from lenders for updates as to the progress on registrations to report that at March 2022, HMLR states that it is completing over half of complex applications, such as first registrations, creating a new lease or transfers of part, in around eight …

This article is only available to subscribers.

SRA – risk outlook

May 2022 | Conduct, practice and risk management

The SRA has published its 2021/22 risk outlook – clearly the risks will be applicable to non-SRA regulated firms as well, so all firms should consider it. The SRA refers to ‘these times of exceptionally high uncertainty’. The entire report is worth reading but some of the key points of risk are: Firms have continued …

This article is only available to subscribers.

HMLR – variation in names

May 2022 | Conveyancing

The volume of information and training content issued by HMLR is impressive. Many firms receive requisitions relating to matters which could delay completion of the registration or, worse, result in its cancellation. HMLR monitors the volume of requisitions generated by firms. All firms should offer training to their post-completion departments on the guidance issued for …

This article is only available to subscribers.

HMLR – statements of truth

May 2022 | Conveyancing

A statement of truth is a method of providing evidence in support of an application sent to HMLR. The need to provide evidence may arise in a variety of situations, for example: on an application to be registered as proprietor of land on the basis of adverse possession, or if for some other reason there …

This article is only available to subscribers.

Penal notice – sent by email

May 2022 | Commercial

An interesting HC case considered the appropriate sanction for breach of injunction in what it described as a ‘relentless’ target of the claimant. The proceedings leading to the injunction concerned a number of securitisations of loans and mortgages (sharing the name Business Mortgage Finance or BMF and described as ‘issuers’ in the case). In broad …

This article is only available to subscribers.