HM land registery , registers the ownership of property , it is one of the biggest property data bases in Europe , when the UK had a property boom in 2007 , an average of 1 million pounds sterling worth was input onto the Land registery data base every minute .
The Land registry like other registers for property in other countries , HM Land registry has a gaurantee of title to registered estates and interests in Land . It records the ownership rights of freehold properties and also leashold properties where the lease has granted for a term exceeding 7 years.
The accepted definition of land , can include the buildings situated upon the land , particularly where parts of buildings at different levels ( such as multi storey flats ) are in different ownership . It is also possible to register the ownership of the mines and minerals which lie within the land , Aslo airspace above the property where this is in seperate ownership.
Up to April 2020 , HM Land registry received no goverment funding, as its income was expected to cover its expenditure using registration and search fees. Property owners whose property is not registered can apply on a volantary basis for registration . As of March 2016 when the last count was done, they had 24.5 millions registered titles that covered 88% of the land mass of England and Wales.
If a property is registered under the Land Registration act 2002 this will affords property owners some protection against squaters as well as avoiding the need to produce old documents each time a property changes hands. Benefits of Land registration Registration establishes proof of ownership and produces an easy - to - read document reflecting the contents of all paper title deeds. This makes it easier for transactions when buying or selling and makes the whole process much more cost effective . Registering a property is the safest way to secure ownership of land and property , as this is state backed registration you get greater security of title, you are providing you with better protection from adverse claims for possession .
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