Unregistered land - "Caution"

[R1Geezer]

Can anyone explain what this is and how it works in relation to a loan secured on unregistered land? Can you explain the positions of both sides and the enforcibility of the debt etc. Thanks.

[Buenchico]

Quote:
"A Caution against First Registration is a means of protecting a person's interest in an unregistered property and can be registered in respect of charging orders, rentcharges and the like.

The Caution Title identifies the Cautioner and provides details of his interest in the property. The Caution is registered separately and is given a title number. In addition to a Caution Title register there is also a Title Plan showing the extent of the property affected by the Caution.

A caution is not an actual registration of any estate in land. It is merely a means to trigger notification to the person who lodged the caution when an application for first registration is made. In practice the solicitor acting for the purchaser of a property will make a search at HM Land Registry, which will reveal the existence of the Caution. He will then ensure that the Cautioner's interest is dealt with before proceeding with the purchase. Thus the registration of a Caution against First Registration is an effective way of protecting an interest in an unregistered property. As all property is now compulsorily registerable following a purchase, the Caution is always seen and must be dealt with for the purchase to proceed.

There can be many cautions registered against the same property, each with their own Caution Title. "

Source:
http://www.landsearch.net/glossary.asp

Chris

[Eve]

It's aimed at practitioners but the Land Registry's practice guide is here...

http://www1.landregistry.gov.uk/assets/library /documents/lrpg003.pdf

[R1Geezer]

Ok thank you both.