Does a lease extension create a new land registry entry?

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    Does a lease extension create a new land registry entry?

    Can anybody tell me what happens to the existing record at the Land Registry when the term of a leasehold flat is extended. Does the Land Registry delete the present record and re-issue a new number, or is the existing record simply amended?

    And secondly,

    What happens to the Land Registry record when the leasehold term expires?

    Tim

    #2
    Originally posted by TimUK View Post
    Can anybody tell me what happens to the existing record at the Land Registry when the term of a leasehold flat is extended. Does the Land Registry delete the present record and re-issue a new number, or is the existing record simply amended?

    And secondly,

    What happens to the Land Registry record when the leasehold term expires?

    Tim
    1. Each HMLR title is specific to an estate or interest. A new lease needs a new title, so - on leasehold extension - the old title is closed and a new one is opened. Really, an "extension" is a surrender and re-grant (except, unusually, if the extension takes the form of a reversionary lease leaving the old lease in place).
    2. Hence, if the old lease is subject to a registered charge (=mortgage), the chargee/mortgagee needs to execute a Deed of Substituted Security before the old title can be closed.
    3. If a registered lease's term expires, the title continues to exist. Some leases are capable of continuing after term expiry (think AST with periodic continuation tenancy). The title can be closed on application (form AP1) with supporting evidence.
    4. The same is largely true of a lease that is as-yet unregistered and now expires (but application form would be CN1) or is extended.
    Last edited by jeffrey; 02-08-2007, 13:50 PM.
    JEFFREY SHAW, solicitor [and Topic Expert], Nether Edge Law*
    1. Public advice is believed accurate, but I accept no legal responsibility except to direct-paying private clients.
    2. Telephone advice: see http://www.landlordzone.co.uk/forums/showthread.php?t=34638.
    3. For paid advice about conveyancing/leaseholds/L&T, contact me* and become a private client.
    4. *- Contact info: click on my name (blue-highlight link).

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