First Registration v Deeds & Green Certificate

I'm selling a property to a developer and he is asking that I have a "first registration" done before he hands over the cash.

My solicitor believes (though there are 2 schools of opinion - how convenient - nothing like it being done right first time) that my deeds and the green Certificate (where we bought out the leasehold by agreement with the leasholder) are as good as first registration documents but messy for the developer in terms of when he sells on.

I'm after opinion on whether this is the developer trying to drag out the purchase, buy the property at 2005 prices when the land registry glorifies us with its action - possibly 2007 - 2008, is his solicitor stirring it up to generate fees, or does he want to buy it.

I've got to the point with this that I'll consider dumping this deal, registering the land, getting PP and then selling it, but then I need to wait 3 years for this.

Ideas?

There really are two schools of opinion on this. Based on what you say I would say your title sounds fine and is good marketable title, but land registry title is so straightforward and conclusive that many people prefer it.
One thing I would say is that in your circumstances, first registration would not need to be a long dragged out process. I once ( under severe pressure from a client who was a developer) did a first registration from start to finish in two weeks. There was a hell of a lot of work involved though, and I attended personally at the land registry twice.

Vanilla,

How much paperwork is involved? For example, can I get a form, fill it in, bring my deeds down and doorstep the civil servants. I would rather conclude this and get on with my life but if I have to be strung out by the land registry so be it. Do I need a solicitors involvement? If I have title surely this is a rubber stamping exercise to appease another level of civil servants?

There is a fair bit of paperwork involved, affadavits must be sworn, a schedule of title etc The wording must be exact. Also an original certified map, searches, valuation office certificates etc. I don't know if you could do it yourself, I would think it's a job for a solicitor, but perhaps I'm biased.

I do not mind involving a solicitor - but letters take weeks to be dealt with. I'm thinking I go to my solicitor (who has all my paperwork) once she has done what needs doing then I bring it down to the land registry and they can do their bit. What I do not want, but am prepared to negate is this endless dilly dallying between solicitors that cost me money and time. Basically I want the job done right first time. If that means sitting on a solicitor or land registrars head until they do their bit fine. I'm struggling to see why a form cannot be filled in, along with my ownership docs. and the land registry people register it, give me my first registration and I could get on with it.
I've worked in IT for 20 years and NEVER have I had to deal with people who have "2 schools of thought" - it either works or it does not.
Why do I need an affadavit? - I own it. Schedule of title - I own the deeds that the solicitor says are 100% watertight mine. I've got lods of maps, the one with the deeds and my latest is the overpriced red stamped map from the OS by a surveyor. As for wording needing to be exact - "I own it, it's mine on this piece of paper now I would like a new piece of paper with my name on it". Why do I need valuation certificates? - It's mine. I'm not selling it to me. I'm selling it after - prices go up, go down. This should be in letting off steam Vanilla as I'm getting all wound up about something that should be a rubber stamping job if all my paperwork is in order.

"I'm struggling to see why a form cannot be filled in, along with my ownership docs. and the land registry people register it, give me my first registration and I could get on with it. "

Its not a rubber stamping procedure. Land Registry Title is a State Guaranteed Title that is beyond reproach. Why should you be entitled to a state guaranteed title as of right?

You currently have an unregistered title that can be converted to registered but it does take time. It may very well be possible for you to do it yourself and if you do perhaps you may gain a very large appreciation as to what is involved in a conveyancing transaction.

You don't have to sell to the developer. You don't have to sell at all but I assume you want to, there is money being offered to you and I think, very sensibly, it will ease the title issues in the future if the title is registered.

Not everything is simple. Lots of things take time and effort.

mf