Where Land Registry titles are incorrectly registered, additional work is required to rectify the situation.

If the title is outdated, any subsequent transaction may be delayed whilst this is rectified - and you may even be in breach of your obligations to your lender.

So what can Watford businesses do to avoid the headache of fixing them?

Check names are correct

Whether the property is owned by a partnership, a charity or a company, it must be registered at the Land Registry in the correct name. It’s also worth double checking the situation every time a partner or trustee joins or leaves, or there is major change within the business.

A common example

Properties are often held on trust by several partners or trustees who may then retire, move abroad or die. But their name often remains on the title, or they may have the benefit of a restriction which prevents the title from being updated without their consent.

The current partners or trustees then face difficulties getting in touch or locating them, or perhaps the former partner or trustee left under a cloud and is unwilling to cooperate with the transaction. This then results in delays and increased costs.

Are you at risk of property fraud?

Properties should also have the correct address for service noted at the Land Registry to ensure any notices are received by the correct recipient.

An incorrect address for service can result in a multitude of issues - such as property fraud, third parties gaining rights or interests over the property or financial implications relating to legal charges affecting the property.

It is also wise to sign up to the Land Registry’s Property Alert service, where an email alert is sent out if there is activity at the Land Registry affecting your property.