Commentary

14 Franchise markets and registration

MARKETS AND FAIRS vol 26(2)B
| Commentary

14 Franchise markets and registration

| Commentary

14 Franchise markets and registration

As an incorporeal hereditament, any conveyance of a market separate from the market place does not attract compulsory registration because it is not a qualifying estate within the Land Registration Act 2002 Section 4(2). A market franchise created by express or presumed lost grant from the Crown1 has, however, since 13 October 2003 been capable of being voluntarily registered as a distinct interest at the Land Registry2.

For the purposes of land registration, the legislation draws a distinction between an ‘affecting franchise’ and a ‘relating franchise’. An affecting franchise is defined as a franchise which relates

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