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Until April 2020, HM Land Registry received no government funding, being required to ensure that its income covers expenditure, and finances itself from registration and search fees. As of April 2020, HM Land Registry receives a budget from HM Treasury and was the result of HM Land Registry's trading fund being revoked. [8]
The National Land and Property Gazetteer (NLPG) is an initiative in England and Wales to provide a definitive and consistent address infrastructure. Up until recently [when?] Great Britain has not held a single list of all addresses in the country, meaning that many government and private services have not been sure if addresses from differing sources refer to the same or different properties.
Largely through pressure from the central UK government for a consistent address resource the NLPG has become UK’s definitive address infrastructure. However, the development of the NLPG has been held back by arguments between local authorities and the national mapping agency, Ordnance Survey , who are required to act as a trading entity.
Instead of paper title deeds determining people's property rights in land, the entries in the registry were the source that determine people's property rights. However, many property rights were never expected to be registered, particularly the social claims that people had on family homes, or short leases.
Opponents of deed registration at the time claimed that a general registry was unnecessary. [4] In practice, the conditions of sale at the time circumvented a number of the problems that motivated the legislation. [4] A system of deeds registration was also considered at the time: title registration was a new and untried system. [4]
A title search ensures that there are no hidden claims on the property that could impact the ownership rights of the buyer. The search is typically performed by a title company or attorney and can ...
Second, technically the transfer must take place under Law of Property Act 1925, section 52(1) by a deed (though there is no reason why this cannot be combined with step 1, by using a deed for the sale!). Third, the land must be registered for the legal interest to take effect under LRA 2002 sections 27 to 30.
Title does not have to be perfect – if the registrar believes that any defect will "not cause the holding under the title to be disturbed", absolute title will be given – s.9(3) LRA. Possessory freehold title – there is no documentary evidence of title (e.g. lost title deeds). Title depends on adverse possession.