While homeowners are not restricted from selling, remortgaging or making changes to their land or property title whilst the application is open, it can create unnecessary additional time, effort and sometimes costs for solicitors.
More worryingly we have recently seen a number of occasions where standard securities that were recorded in the Sasine Register have not been discharged as part of the First Registration and solicitors acting in any subsequent transactions are not aware of their existence when following normal practices, until the application makes it out of the backlog!
Once a property moves to the Land Register, there is no need (in theory) to look at the Sasine Register. A Legal Report for a property that has left the Sasine Register will only report on the Land Register title or pending application(s). If the parties acting in the first registration have failed to satisfy their obligation to discharge an outstanding standard security, then this won’t be apparent in normal practice.
We can help mitigate the risk of the above situation. If a property is undergoing first registration, we can send the legal report as normal. However we can also make you aware and arrange an unregistered legal report. We can examine the evidence of the original, identify the sasine search sheet and provide an unregistered legal report over the sasine title(s) making sure there are no surprises when you receive your completed title sheet.
At Millar & Bryce we’re here to help, as well as being experts on searches, we understand your requirements for conveyancing and registration and provide pro active solutions to mitigate risks in transactions.
If you’d like further details, then please contact your Account Manager or email us at relationship@millar-bryce.com
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Millar & Bryce
First Floor, East Wing,
Lochside House,
3 Lochside Way,
Edinburgh,
EH12 9DT