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There appears to be amongst the profession generally some misunderstanding regarding the above and, accordingly, the Conveyancing Committee has deemed it necessary to issue a practice note covering the position which arises in relation to apartments/flats/commercial properties where the title consists of a lease carved out of a folio. The folio may be freehold or leasehold.

1. If one opts to have the lease registered as a burden on the folio (the lease should contain a consent by the lessor to the registration of the lease as a burden) there must then be opened in the Land Registry a new leasehold folio. (See Section 70 Registration of Title Act, 1964).

Registration is not mandatory under the Act but is advisable.

2. In order to have the new leasehold folio opened it is necessary to lodge the following documents in the Land Registry:-

(a) lease and counterpart or a certified copy. (If the counterpart or certified copy is not lodged the Land Registry will retain the original);

(b) affidavit of discovery;

(c) verified hand search in the Registry of Deeds against the purchaser/borrower from the date of the lease. The property searched against must include the description " ....... and being part of the lands comprised in folio ....... " ;

(d) a judgement search against the borrowers;

(e) if there is a loan, a mortgage and counterpart or certified copy;

(f) the usual statutory declarations re the Family Home Protection Act, The Family Law Act, etc.;

(g) Land Registry fee to cover the registration of the lease and mortgage of £30.00 (first registration).