What STANDARD FORM OF RESTRICTION should we use?

[Kennel]

HI,

I am the sole owner of a freehold property.

My Land Registration has no motgage, restrictions, notices or any other financial registrations.

A friend has lent me £10,000 and we both want to secure the loan on the property.

He is using "Land Registry Application to enter a restriction RX1" and I obviously am giving the relevant consent.

My simple question is:-

WHAT STANDARD FORM OF RESTRICTION DO WE USE? (A choice is given in "Appendix C": A to PP)

With thanks.

Kennel

[honeybee13]

Hello and welcome to CAG.

 

I'm sorry you haven't had any replies yet, but this could be due to the long weekend and good weather for those lucky enough to have some.

 

I'm going to move your thread to the legal forum where I think the guys should be able to help you.

 

My best, HB

[AndyOrch]

Hi Kennel and Welcome to CAG

 

Using the RX1 form I would assume its " C " Application made with the consent of the registered proprietor " , your friend is the applicant and you are the Proprietor giving Consent.

I personally would run this by a Conveyancing Sol first need to be watertight for your own security.

 

Regards

 

Andy

[Kennel]

Thank you for your reply Andy,

I have, with the aid of my own small intellect, narrowed the choice to Standard form "N" and this would seen to suit my circumstances.

However I would like conformation on this, do you agree that FORM N is the most suitable.

Clearly I do not have any money (I am on pensions credit) to pay the £300 to £500 that solicitors demand for this small piece of advice.

With thanks.

Kennel

[AndyOrch]

RESTRICTIONS: Use Form RX1

 

These restrict the registered proprietor’s ability to deal with the land.

 

Practitioners should be cautious before applying for a restriction. It is not enough to make the application simply because there is an arguable case. It must be shown that there is a definite case for a restriction. There has to be a beneficial interest.

 

When applying to register a restriction on Form RX1 you must use the Land Registry’s standard forms. These are not actual forms, but are standard wording and can be found in Practice Guide 19 Appendix B. The form must be copied into Box 10 on the form and you must specify which form has been used (by using the relevant letter). The most familiar is Form A (used where a client has made direct contributions to the purchase of the property but is not the registered proprietor). If there is no available form of wording, the Registrar will only approve the form of wording if it is:

 

Reasonable;

The application would be straightforward;

The application would not place the Land Registry under an unreasonable burden.

(N.B. a higher application fee is also required)

 

Once an application has been made, the Registrar will inform the proprietor who has 15 days to object to the application.

[Kennel]

Thank you for your general advice Andy,

Unfortunatly it does not answer my original question that was:-

 

My Land Registration has no motgage, restrictions, notices or any other financial registrations.

A friend has lent me £10,000 and we both want to secure the loan on the property.

He is using "Land Registry Application to enter a restriction RX1" and I obviously am giving the relevant consent.

My simple question is:-

WHAT STANDARD FORM OF RESTRICTION DO WE USE? (A choice is given in "Appendix C": A to PP)

 

Or my follow up post that was:-

I have, with the aid of my own small intellect, narrowed the choice to Standard form "N" and this would seen to suit my circumstances.

However I would like conformation on this, do you agree that FORM N is the most suitable.

Clearly I do not have any money (I am on pensions credit) to pay the £300 to £500 that solicitors demand for this small piece of advice.

 

Thank you for your attention on this matter.

Kennel

[AndyOrch]

As far as I know Kennel RX1 is the form for a legal charge but why not give the Land Registry a call to clarify.Further guidance:-

 

http://www.landregistry.gov.uk/professional/guides/practice-guide-19

 

Regards

 

Andy

[Kennel]

Andy,

Thank you but I allready have Practice Guide 19.

The reason I am asking you and this FORUM is because the LAND REGISTRY WILL NOT GIVE THIS DETAILED TYPE OF ADVICE.

Does your reply mean that you DO NOT KNOW THE ANSWER TO MY QUESTION or YOU WILL NOT GIVE ME THE ANSWER TO MY QUESTION?

Regards.

Kennel

[AndyOrch]

The answer is I do not know exactly apart from the fact that the form stated RX1 is the form used to place a charge on a property.Which section your friend completes is C.

I am not ofay with conveyancing law and only have knowledge of the Charging Order /Restrictions.

 

4.6.2 Application form and fee

 

Although the order may be addressed directly to the Chief Land Registrar, you should make a formal application for the restriction to be entered. This will ensure that the restriction is entered against the correct titles.

 

Your application should be made in form AP1 (not RX1) (r.92(8), LRR 2003) and should be accompanied by the fixed fee prescribed under the current Land Registration Fee Order.

 

Andy

[Kennel]

When you say "my friend completes section C" do you mean:-

1) Section 8C in RX1

2) Appendix C in Practice Guide 19

3) Standard Form C in Appendix C (If you mean this one it is for deceased people).

Additionally my friend and I specifically chose RX1 as against AP1 because it afforded my friend more security on his loan (i.e. I or my executors could not sell without his consent in AP1 the land Registry are only inform the registrant)

I think we had better give up this dialog it's a bit like THE BLIND LEADING THE BLIND.

Kennel

[percypiglet]

Kennel, it's been a long time, but did you ever get a definitive answer to your query? I'm in the same situation and no-one seems to know the answer! Please get back to me, if you can. Thanks!

[dx100uk]

you need to start a new thread>>clickme

of your own

 

thread closed

dx