DM Hall, one of Scotland’s foremost firms of Chartered Surveyors, has made comprehensive arrangements in advance of the Land Registration etc. (Scotland) Act 2012, which is incorporated into the statute books today (December 8).
Conscious of the major changes in the Act and the implications for professionals in the legal, conveyancing and search side of land and property transactions, the firm has geared up to provide quality advice and opinion immediately it is required.
The Act, which is designed to formalise transactions and to bring registration law into line with underlying property law, has a number of key elements which have to be taken into consideration.
Amanda Cameron, based in Dunfermline and head of DM Hall’s sector-leading Property Services Department, said: “We have taken every step to ensure that we are as prepared as we can be for this major legislative event.”
One of the major differences in the Act is that P16 Reports will be replaced by three different levels of Pre-Registration Plans Reports, of increasingly complex levels of detail.
Ms Cameron said early indications were that most legal professionals would be seeking the Level 3 Report – the most detailed report, which enhances the information in the other two levels.
DM Hall will be offering Legal Reports on both registered and non-registered subjects in place of the Form 10, 11, 12 and 13 Reports which will no longer exist under the Act.
Land and Charge Certificates will no longer be issued. Instead a PDF version of the title sheet, correct as at the date of registration will be issued on completion of registration.
There will be an introduction of an Advance Notice, relating to a specific deed which a granter intends to grant which, when lodged against particular subjects, will protect against any competing deed being registered against the property, or an entry in the Register of Inhibitions for a period of 35 days.
Amanda Cameron added: “These are significant departures from the way conveyancing has been carried out until now and all professionals will want to be as au fait with the changes as possible. They can be assured that DM Hall’s teams stand ready to help.”
For further information, contact DM Hall Chartered Surveyors, 27 Canmore Street, Dunfermline KY12 7NU. T: 01383 621 262. Dunfermline@dmhall.co.uk www.dmhall.co.uk.