How To Create A Land Registry Lease Plan
When creating a lease plan, it is important that you get it right. Lease plans that are rejected are costly in both money and time. No matter the property, if a new lease lasts seven years or longer, then you must register it with the land registry and create a lease plan. This lease plan needs to be compliant with all current legislation.
If you are wondering how to create a lease plan, then read on for our ultimate guide.
What Is A Lease Plan?
A lease plan identifies the extent of a leasehold within an area of land or property. It is a drawing that provides all the information the land registry requires when registering a new lease transaction. It is vital that when you submit a new lease plan, it is created carefully. This is because errors in the plan can lead to increased costs and delays.
If the land registry rejects a lease plan, you will need to submit it again. This means amending the plan which can require all parties involved re-doing their parts. When there are issues with a lease plan, it can end up being timely and expensive. You may end up having to pay further solicitor fees and also comply with submission time frames.
When Do I Need One?
It is vital that you understand if a lease plan is required for the land registry. The following situations all require a lease plan;
- If a lease is granted for more than seven years
- Should a lease is granted from an unregistered title
- If land is already part of a registered title but put up for sale
- Should land be sold and it hasn’t previously been registered
- If a registered property is granted an easement.
What are the Requirements?
To avoid having your lease plan rejected by the land registry, you will need to meet the guidelines. There are many requirements to include in a land registry lease plan, but some of the most important include;
- Scale: Drawings on a land registry lease plan must be accurate and to scale. The land registry prefers scales of 1:1250-1:500 for urban buildings or 1:2500 for rural buildings.
- Location: Lease plan drawings must show the property’s orientation with a north point. As well as this, they must show enough detail of the surrounding area so the location can be easily identified.
- Property Extent: It is vital that your lease plan shows the full extent of the property or land. Make sure you include everything such as garages, garden grounds and parking spaces. You must include all access points on property boundaries.
- Accuracy: All measurements used on a lease plan drawing must be accurate to two decimal places. It is also important that the lines and details on the drawing do not cover anything important.
At Assessment Hive, we are specialists in creating lease plan drawings for properties of all shapes and sizes. We can help with floor plans and lease plans for both commercial and residential properties.