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Back in June 2015, the Land Registry introduced a new form called Form ST5 to act as a statement of truth to support an application in Form RX3 to cancel a Form A restriction. Over 12 months on, do you understand why this is a requirement?
A Form A restriction states that: ‘No disposition by a sole proprietor of the registered estate (except a trust corporation) under which capital money arises is to be registered unless authorised by an order of the court.’
Land Registry states that before cancelling a restriction in Form A in the proprietorship register, they must be satisfied that the restriction in question is no longer required.
This restriction is entered onto the register where there is a trust of land and it is always registered on titles registered as Tenancy in Common. One owner cannot sell without the other co-owner to the title, and Land Registry must be satisfied that the restriction is no longer required. Land Registry Form ST5 thus acts as a statement of truth to confirm what has happened to the beneficial interest protect by the restriction and who the interest has now passed to and how this happened.
This Land Registry form is available as part of the range of FormEvo Land Registry forms. Further guidance can be found in the Land Registry guide:- Practice Guide 73 - statements of truth.
This Article was originally published by Today’s Conveyancer
