Tweet
Do i need to register a new Form B Restriction with HM Land Registry?
Good evening,
I hope to receive some guidance from the community on a current legal dilemma.
I and my partner purchased a property as tenants in common and had a basic Deed of Trust put together at the time of purchase. We have since decided that this Deed of Trust doesn't accurately reflect the beneficial shares, so we have had instructed the services of Parachute Law to draft a Floating Deed of Trust, which they have done but yet to be signed.
What we are unsure of is whether a new Form B Restriction needs to be registered with HM Land Registry that refers to the new Declaration of Trust which is included within the Floating Deed of Trust that Parachute Law has provided. SAM Conveyancing, who referred us to Parachute Law, advised that this wouldn't be required and the new Deed of Trust would simply need signing by both parties and kept until required when sold. However, I'm not sure this is the case as the restriction in the HM Land Registry Title specifically refers to a Declaration of Trust dated when purchased, which of course isn't going to match the date of the new Declaration of Trust included within the Floating Deed of Trust we have just had drafted.
Here is the Form B Restriction located within the current HM Land Registry Title with personally identifying information removed:
(15.07.2021) RESTRICTION: No disposition by the proprietors of the registered estate is to be registered unless one or more of them makes a statutory declaration or statement of truth, or their conveyancer gives a certificate, that the disposition is in accordance with the Declaration of Trust dated 15 June 2021 made between [Redacted] and [Redacted] or some variation thereof referred to in the declaration, statement or certificate.
TLDR: Does the date stated in the Form B Restriction on an HM Land Registry Title need to specifically refer to the Declaration of Trust associated with the most recent Deed of Trust?
I apologise in advance if I have done a poor job at explaining my query.
Any help on the above matter would be greatly appreciated.
I hope to receive some guidance from the community on a current legal dilemma.
I and my partner purchased a property as tenants in common and had a basic Deed of Trust put together at the time of purchase. We have since decided that this Deed of Trust doesn't accurately reflect the beneficial shares, so we have had instructed the services of Parachute Law to draft a Floating Deed of Trust, which they have done but yet to be signed.
What we are unsure of is whether a new Form B Restriction needs to be registered with HM Land Registry that refers to the new Declaration of Trust which is included within the Floating Deed of Trust that Parachute Law has provided. SAM Conveyancing, who referred us to Parachute Law, advised that this wouldn't be required and the new Deed of Trust would simply need signing by both parties and kept until required when sold. However, I'm not sure this is the case as the restriction in the HM Land Registry Title specifically refers to a Declaration of Trust dated when purchased, which of course isn't going to match the date of the new Declaration of Trust included within the Floating Deed of Trust we have just had drafted.
Here is the Form B Restriction located within the current HM Land Registry Title with personally identifying information removed:
(15.07.2021) RESTRICTION: No disposition by the proprietors of the registered estate is to be registered unless one or more of them makes a statutory declaration or statement of truth, or their conveyancer gives a certificate, that the disposition is in accordance with the Declaration of Trust dated 15 June 2021 made between [Redacted] and [Redacted] or some variation thereof referred to in the declaration, statement or certificate.
TLDR: Does the date stated in the Form B Restriction on an HM Land Registry Title need to specifically refer to the Declaration of Trust associated with the most recent Deed of Trust?
I apologise in advance if I have done a poor job at explaining my query.
Any help on the above matter would be greatly appreciated.
Comment