Are you supporting your applications to cancel a restriction with Form ST5?
Last June, Land Registry introduced Form ST5 to act as a statement of truth to support an application in Form RX3 to cancel a Form A restriction. Over 12 months on, do you understand why this is a requirement?
A Form A restriction states that: ‘No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court.’
Land Registry states that before cancelling a restriction in Form A in the proprietorship register, they must be satisfied that the restriction in question is no longer required.
This restriction is entered onto the register where there is a trust of land and it is always registered on titles registered as Tenancy in Common. One owner cannot sell without the other co-owner to the title, and Land Registry must be satisfied that the restriction is no longer required. Form ST5 thus acts as a statement of truth to confirm what has happened to the beneficial interest protect by the restriction and who the interest has now passed to and how this happened.