Updating the Land Registration Act 2002: A Consultation Paper
Last updated: 30 Jun 2016
- Consulting body:
- Law Commission
- Period of consultation:
- Runs from 31 March 2016 to 30 June 2016
- CML action:
- Response submitted
The Law Commission published a consultation on Land Registration following a review of the Land Registration Act 2002, with a view to making recommendations to update the Act.
Aspects of the review which will be of interest to lenders and those who have lender clients include:
- The circumstances in which the register may be rectified
- Whether the application of the Land Registry’s indemnity scheme to mortgagees should continue, particularly in the context of registered title fraud
- The rules governing the circumstances in which further advances may be made on the security of an existing charge
- Use of the land registration system to protect contractual obligations entered into by borrowers not to create further charges over the land
The CML has responded to the Law Commission consultation on the Land Registration Act 2002. We have cautioned against radical reform of the indemnity scheme, especially in light of the uncertainty around the future operation of the Land Registry, and wider economic uncertainty.
Download the full response below.