HM Land Registry is a government organisation that registers all ownership details relating to land and property throughout England and Wales. It maintains the Land Register, which keeps titles relating to land and property in England and Wales. Each title shows who has ownership of a specific piece of land or a property.
Whenever a piece of land or property is bought or sold, details of the changes must be relayed to HM Land Registry. This can now be done online by following the steps on the official website. For example, someone selling a property they hold ownership of must tell Land Registry when they relinquish that property to someone else. The details of the new owner would then be relayed to the Land Registry, so the property or land information can be updated in the register.
While the owner of a parcel of land or a property will be noted on the register, any other party with a vested interest in that land or property will also be included. If you purchase a property with the aid of a mortgage, for example, the lender’s details will also be added to the register. This occurs because the lender would have an interest in recouping their money if you were to fall behind with your mortgage and the property was repossessed and sold. The same applies if a secured loan was put in place.
Once a mortgage is completed, the details of the lender should be removed from the Land Register to reflect this. The lender should get in touch with HM Land Registry to ensure this is done.