Understanding property restrictions is essential if you are purchasing a property, as they can impact the value of the property or what you can do with it. There are several different property restrictions, each with their own features.
Some Examples of Property Restrictions
Among property restrictions are restrictive covenants. These put conditions on a property’s use, such as residential only, or on development, like the height of buildings permitted. Take a look to find out more about how restrictions might impact your purchase.
Another restriction is one that you yourself might choose. A Form LL Restriction is a measure that protects a property against fraud, by ensuring that it can only be put up for sale or remortgaged by the property owner. Before selling or remortgaging their property, the owner will have to verify their identity with a solicitor. If this is a property restriction that interests you, it is worth taking legal advice from a firm with experience in this such as https://www.parachutelaw.co.uk/form-ll-land-registry-restriction.
The Length of Restrictions
There is no single answer as to how long a property restriction lasts. If there is a restriction on your property, check the legal agreement or the property’s title documents. Some will specify a period, some will be impacted by local laws and others may be in place for the entire existence of the property.
If you have put a Form LL Restriction on your property, you may wish to remove it to speed up the conveyancing process when selling. This can be done at a time of your choosing by a solicitor verifying your identity and submitting the correct forms to the Land Registry.
How to remove a restriction
Property restrictions cannot be ignored and if you want a restriction removed, it is vital to get legal advice. A solicitor can check the agreement for clauses that may allow you to remove the restriction or negotiate an agreement with all interested parties. It may be possible to apply to the relevant authority to have the restriction removed or to obtain a legal order that modifies the restriction.
