HM Land Registry have provided informative videos for conveyancers to help avoid the most common reasons for requisitions after data revealed that nearly 20% of registration applications require them to raise a requisition.
In addition, due to requisition rates varying widely between individual firms, it can be up to as much as 50% of applications requiring a requisition to be raised in some cases.
The Land Registry are unable to complete a registration application because some of the information they require to complete the process is missing, incomplete or wrongly drawn.
If this happens, more often than not a requisition is raised, which is a formal request for the applicant to supply the information. If the request is ignored by the applicant and the information is not provided, they may well end up cancelling the application.
But nearly half of all requisitions could be avoided – find out what the differences are between avoidable and unavoidable requisitions.
The Land Registry have provided some helpful videos to watch to help avoid the most common reasons for requisitions – and have advised that it may be prudent to use them as training material for land and property professionals in firms:
- issues relating to the discharge of charges
- restrictions in the register
- variations between the register, transfer and charge
- execution of deeds and powers of attorney
- confirmation of identity
- company charges
- errors in lodging applications electronically
For more information on requisitions and how to avoid them click here.
