Form News

Overseas companies and limited liability partnerships – New Property Transaction Guide

When overseas companies and limited liability partnerships (LLPs) acquire land and lend money on the security of land and property in England and Wales, transactions such as a transfer, lease, mortgage or a discharge of a mortgage must be registered with HM Land Registry.

HM Land Registry needs to be satisfied that the overseas entity has:-

• a legal personality distinct from its members
• power to own and deal with estates and interests in land in England and Wales
• made sure the deeds to which it is a party have been duly executed Overlooking these requirements can delay an application or lead to it being cancelled.

HM Land Registry has introduced a new practice guide to help conveyancers make sure their application is right first time, so that registering the transaction is as quick as possible.

The new practice guide is Practice Guide No 78: overseas companies and limited liability partnerships

SHARE: