Land Registration Act 2002
The Land Registration Act 2002 came into force on 13 October 2002. In the context of business lease renewals, its importance relates to the abolition of cautions against dealings registered by tenants to protect their 1954 Act proceedings, in the event that landlords sell their registered land (to ensure that the successor landlord is bound). From 13 October 2003, where the landlord's reversion is registered, a tenant should protect its 1954 Act proceedings by a unilateral notice on the register - otherwise, they might not bind a successor landlord.
It repealed and update previous registration acts, in particular the Land Registration Act 1925. It enabled the registering of shorter leases, encouraged voluntary land registration and reformed the laws of adverse possession.
The mechanisms by which these objectives are met include:
the extension of compulsory first registration for freehold titles at the time of sale, to include those for leases of greater than 7 years' duration, necessitating the production of lease plans for all individual lease agreements;
the introduction of voluntary registration for titles and interests in land that might otherwise not be registered;
the introduction of the 'determined boundary' designation to help adjacent property owners agree a defined boundary position, recorded on the appropriate scaled plan and then registered.
- Land Registration Act 2002
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