Land Register Act Essay Example | Topics and Well Written Essays - 1000 words

Land Register Act - Essay Example The Act of 2002: An important change brought about by the new law is the introduction of a new system in relation to adverse possession for registered land. The effect; It will make registered land virtually squatter-proof and bring clients owning unregistered properties to voluntarily register to the Land Registry. Prominent among these is the increase in the number of dispositions and interests capable of registration. These include, naming a few: Most prominent among the above is the compulsory requirement to register leases of 7 years and considered to have the biggest impact in practice. This will have an overwhelming effect on leases of 3 years and more as well. As leases are the most common type of property transaction, the new law has attracted criticism, for its bureaucracy and increased costs. The Act's objective that the Register should show transparency in all registered titles and the overriding interests to which a property is subjected to, will be reduced and in some cases lose this overriding status after 10 years. For the first time, overriding interests will be treated differently on first registration and on subsequent dealings. The protection of third party interests over registered land and the abolishment of cautions and inhibitions are an addition to the new law. Notices and restrictions can be agreed upon with the registered proprietor's consent, or Unilateral, without consent. Unilateral notices will take the place of cautions and a registered proprietor will be informed of the registration of such a notice by the Land Registry. The registered proprietor has the discretion to contest the notice and can apply to have it removed. Restrictions, apart from its present usage, will be used in cases of insolvency, where inhibitions are currently used. Another major point of discussion is the right to access of documents related to a registered title in leases and charges by the Land Registry. This ruling is seen to be quite encouraging, and is a positive move to prevent misappropriation of property by unscrupulous methods. Along with this, is the appointment of an independent adjudicator for the Land Registry who has the power to determine contested applications. However, the Act also allows any decisions of the adjudicator to be appealed through Court (Naomi Druiff & Taylor Joynson Garrett, 2002)2. 3.0 Summary Land registration has never held the centre-stage as it does