Friday, July 26, 2019
The impact of the Land Registration Act 2002 on the conveyancing Essay
The impact of the Land Registration Act 2002 on the conveyancing process in registered land - Essay Example It served well for nearly 80 years and was able to cope with the fundamental economic and social changes that took place over that time. Today, nearly all land is Ã¢â¬Ëregistered landÃ¢â¬â¢ and the system underwent significant reform with the enactment of the Land Registration Act (LRA) 2002 that entered into force on 13 October 2003. The Land Registration Act 2002 has been received with much critical acclaim, and rightly so. It is a work of monumental importance and monumental effort. Law Commission Report No 271 was itself the last in a long series of Reports discussing, proposing, rejecting and recommending changes to the fundamentals of the land registration system established by the Land Registration Act 1925 . As is well known, the Act of 2002 is designed to revolutionize conveyancing in England and Wales and to bring the land registration system established by the 1925 Land Registration Act into the modern age. In fact LRA 2002 was primarily designed to facilitate e-convey ancing: that is the holding and transfer of estates and interests in land electronically. This goal of a virtually paper free conveyancing system has not yet been achieved because the e-conveyancing provisions of the LRA 2002 have not yet been triggered , but the structure of registered land under 2002 Act is designed to ensure that e-conveyancing will work when the remaining technological issues have been resolved.