Newspaper article The Journal (Newcastle, England)

Government Act Set to Bring in Home Information Packs

Newspaper article The Journal (Newcastle, England)

Government Act Set to Bring in Home Information Packs

Article excerpt

The Land Registration Act 2003 comes into effect on Monday. But as a buyer or seller of property, is the new Act going to effect you during the course of your sale or purchase of a property?

The "front end" procedures for buying and selling a house will not change at the moment and the new legislation will only have an impact on buying and selling property "behind the scenes" - that is, in the solicitors office.

After Monday your solicitor will be dealing with your sale and purchase using the new Land Registry forms as required by the Act.

Also, your solicitor will be implementing the new Land Registry rules applicable to registering the sale and purchase of a property.

The new procedures and rules will ensure that your transaction is noted at the Land Registry in electronic registers which will fully disclose all legal information for your property. This will include any rights of third parties who have, for example, a right to use your property for access purposes or to park a car etc.

The only difference to you, as a seller, will be that you will need to ensure you inform your solicitor of any arrangements such as these which you have made relating to your property.

Whenever a property is bought after Monday, a solicitor will need to consider whether it is appropriate to notify the Land Registry of any rights which have not previously been noted on the registers and which the seller has informed them about.

This process is a move towards full disclosure on the registered titles which are held at the Land Registry of all information which is applicable to a property.

The next stage which the Government is looking to implement in the move towards full disclosure at the beginning of a property transaction does effect the front end procedures - the procedures you will follow as a buyer or seller.

It is suggested that a Home Information Pack be prepared and made available to potential buyers. …

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