Search Acumen are first to offer commercial title ownership data to real estate lawyers
Search Acumen, the property search provider, has announced it is the first in the industry to offer Land Registry’s Commercial Title Ownership data to its customers free of charge as the next step in the evolution of its commercial real estate platform.
As part of Land Registry’s commitment to greater transparency of public information and unlocking its data for commercial use, over 3 million records of Commercial Title Ownership data are available to the public. In support of this move to promote open data, Search Acumen are offering the information from the data set of non-private individual owners in England and Wales to real estate lawyers.
The additional data set will further transform the commercial due diligence process for lawyers working on real estate transactions by providing them with information on the title number, proprietor names, correspondence address and date of registration for owners of legal estates in freehold and leasehold land. Search Acumen have also linked the data to Companies House in order to provide full transparency on the companies’ registration details. It will be particularly useful for those dealing with large redevelopment projects which require details of ownership on a particular title in order to issue the relevant notifications for Compulsory Purchase Orders.
The information will be clearly displayed by Search Acumen on the mapping window of its commercial platform which currently shows existing Land Registry data, such as land tenure, and other title information. The platform has been designed to make it easy for real estate lawyers to reference the data they need for a commercial transaction in real time and through a single, easy- to navigate platform.
Search Acumen is dedicated to improving productivity and efficiency with technology at the forefront and aim to empower real estate lawyers through the provision of this additional data to their existing platform. The data is currently available from Land Registry at a cost of £3 per title, however, Search Acumen are offering the service to its customers free of charge to support them in saving money and time. By adding the data set to their existing platform, real estate lawyers will have access to the information at the outset of the process further showcasing Search Acumen’s commitment to improving productivity.
Andrew Lloyd, Managing Director at Search Acumen, comments:
“Search Acumen are great supporters of the work Land Registry is doing to shape the industry and its future. The recent adaptation to our commercial platform to include details on the ownership of commercial titles is testament both to that and to improving due diligence in the industry. Additionally, the decision not to privatise this government department is a really positive step in further ensuring greater openness in the industry and in delivering a more efficient housing and land market.
“Incorporating this data set is the latest enhancement to our commercial real estate platform launched at the beginning of the year. It’s about using property data in a totally new way to provide commercial real estate conveyancers with a reference tool. We are proud to say that we are the only search company in the industry who is currently offering this data – and at no cost. As a business, we always strive to think ahead and improve the status quo and we endeavour to continue to support Land Registry’s strides to unlock open data.”
Lynne Nicholson, Head of Data Products and Services, Land Registry, comments:
“Land Registry’s commitment to release more data for the public to use is an integral part of our ongoing work to revolutionise and redefine the relationship between the property sector and the UK government. With over 150 years of service to the industry, we recognise the need for greater transparency across the sector and are constantly improving and adapting our service to deliver this.
“We are delighted to see representatives in the industry support our initiatives and communicate this information to those who need it. We hope to see more companies utilise the data we have unlocked to the public as we continue to help individuals and property experts have access to the information they need.”
This article was submitted to be published by Search Acumen as part of their advertising agreement with Today’s Conveyancer. The views expressed in this article are those of the submitter and not those of Today’s Conveyancer.